Dec 30, 2009
In excess of €95 billion of previously undeclared assets, almost €15 billion more than initially anticipated, have been disclosed to the Italian government in the country’s latest tax amnesty.
Assets worth nearly 6 percent of the national GDP have been declared by Italian nationals during the tax amnesty, and 98 percent of the amount has [...]
In excess of €95 billion of previously undeclared assets, almost €15 billion more than initially anticipated, have been disclosed to the Italian government in the country's latest tax amnesty.
Assets worth nearly 6 percent of the national GDP have been declared by Italian nationals during the tax amnesty, and 98 percent of the amount has already been transferred back to Italy, mainly from offshore tax havens. The successful result of the controversial tax amnesty was announced in a statement of Economy Ministry ... Read More
Nov 5, 2009
The Swiss Government has put a halt on Double Taxation Agreement (DTA) procedures with Italy.
Following Italy’s raid on Swiss banks located in Italy, the Swiss government announced on November 1st that it has suspended its negotiations regarding their DTA with Italy. In retaliation, Giulio Tremonti, Italy’s Finance Minister, threatened to “dry out” Lugano, Switzerland’s most [...]
The Swiss Government has put a halt on Double Taxation Agreement (DTA) procedures with Italy.
Following Italy's raid on Swiss banks located in Italy, the Swiss government announced on November 1st that it has suspended its negotiations regarding their DTA with Italy. In retaliation, Giulio Tremonti, Italy's Finance Minister, threatened to “dry out” Lugano, Switzerland's most prominent financial center after Zurich and Geneva.
Hans-Rudolf Merz, Swiss President and Finance Minister, said "The accord was ready for ratification from our side. But now the ... Read More
Oct 30, 2009
The Italian branches of Swiss banks were raided by the Guardia di Finanza on October 30th.
According to Italian authorities, the operation was aimed at ensuring that all relevant taxation data was being provided by Swiss banks to the Italian tax authorities. In total, 76 branches were visited across northern Italy by the Italian Financial [...]
The Italian branches of Swiss banks were raided by the Guardia di Finanza on October 30th.
According to Italian authorities, the operation was aimed at ensuring that all relevant taxation data was being provided by Swiss banks to the Italian tax authorities. In total, 76 branches were visited across northern Italy by the Italian Financial Police, Guardia di Finanza, and tax inspectors from the Agenzia delle Entrate, Italy's Inland Revenue Services equivalent.
While no banks opted to comment on the raids, the ... Read More
Oct 7, 2009
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 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
