Italy-US Agreement on Social Security: What You Need to Know
The Italian and US governments have recently signed an agreement on social security, which aims to provide social security benefits to individuals who have lived and worked in both countries. This agreement is significant news for individuals who have worked in both Italy and the US, as it will ensure that they are not penalized for working in multiple countries and will receive the social security benefits that they are entitled to.
This agreement will benefit workers who have lived and worked in both countries by allowing them to combine their work credits from both countries. This means that individuals will be able to use their work credits from Italy and the US to qualify for benefits from both countries. This will be useful for individuals who have lived and worked in both countries for a significant period of time, as they will be able to receive social security benefits from both countries.
Other key benefits of this agreement include the ability of individuals to receive benefits as soon as they become eligible, regardless of the country they are living in. This means that individuals who are eligible for social security benefits will be able to receive their benefits regardless of whether they are living in Italy or the US.
One of the most important aspects of this agreement is that it will help to eliminate the issue of dual taxation. Dual taxation occurs when an individual is expected to pay taxes in both countries they have worked in, which can significantly reduce their earnings. This agreement will help to ensure that individuals are not penalized for working in multiple countries and that they are only taxed once.
Overall, the Italy-US agreement on social security is good news for individuals who have lived and worked in both countries. This agreement will help to provide social security benefits to individuals who are entitled to them, regardless of the country they are living in. It will also help to eliminate the problem of dual taxation, which can significantly reduce an individual`s earnings. This agreement represents a positive step forward for social security policies and will ensure that individuals are not penalized for working in multiple countries.