The newest Italian Tax Amnesty Program has been written into law, yet is judged to be a risk to the country by Fitch Ratings. Italy, which according to an Associazione Contribuenti Italiani and Klrs Network of Business Ethics survey has EU’s highest levels of tax evasion, has approved its third tax amnesty program in eight years. The 2nd of October saw the Italian parliament pass the tax amnesty proposal with 270 affirmative and 250 negative votes. It was signed into law by ... Read More

The Italian Government has launched a tax amnesty program for the declaration of funds held in offshore accounts. Beginning on the 15th of September, Italians will have opportunity to declare their offshore accounts to the government. The tax amnesty, which will last until the 15th of April 2010, will allow Italian nationals to protect themselves from future penalties and criminal prosecution for their undeclared assets, in turn facing only a 5% penalty on the account’s total value. The tax amnesty applies to ... Read More

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 ... Read More

According to the San Marino Foreign Secretary, the nation expects to upgrade from its standing on the OECD Grey List by September. In an effort to entice Italian companies to invest back into San Marino, along with draw it’s much relied upon tourist dollar, the nation racing to sign the necessary Tax Information Exchange Agreements (TIEA) to improve the view that the OECD takes of it. San Marino was classed as a Blacklist nation by the OECD until 2003, due mostly to ... Read More