September 3rd, 2009

Italy and Republic of San Marino will sign a tax accord by the end of September.

The announcement of the new tax accord between smallest European country Republic of San Marino and Italy was made last week by Italian Economy Minister Giulio Tremonti. This accord is part of an economical program of the governments of Italy and San marino to fight tax avoidance by citizens of these countries.

The third tax amnesty will begin in Italy in mid-September. At the same time the government of San Marino is planning to conduct an emergency census of it’s 31,000 citizens to eliminate foreigners, mainly Italians, claiming to live in San Marino where they enjoy low taxes and strict banking secrecy . The government of Italy has organised high scale PR actions to convince tax haven account holders to come forward. Within the coming weeks San Marino is planing to complete all 12 tax information exchange agreements, in order to be removed from OECD “grey list”.

Share on TwitterSubmit to StumbleUponSubmit to reddit

Related Articles:
Italy Passes Austerity Package
Swiss Suspend Tax Talks with Italy
Swiss Banks in Italy Raided
Monaco and US Sign Tax Agreement
San Marino Eyes OECD Grey List Removal
This entry was posted on Thursday, September 3rd, 2009 at 12:15 PM.
Categories: International Tax Cooperation, Taxation in Italy, Taxation in San Marino.

As TaxationInfoNews is strictly a news source, all analysis within the articles are based on available publications and materials. We offer no personal opinions or interpretations of occurrences, information or events. Not all individuals or groups quoted within articles were interviewed personally, and could be cited from other sources.