San Marino has published Law No. 94 of 24 June 2022 on changes to the budget for 2022. This includes amendments to the conditions for the new foreign financial assets held by individuals (imposta per il riequilibrio delle attività finanziarie estere - IRAFE). The IRAFE was introduced as part of the original budget measures for 2022 and is levied at a rate of 0.2% on qualifying foreign financial assets held directly or indirectly by an individual resident in San Marino. It was originally provided that the IRAFE applied to an individual who has been resident in San Marino for more...