The Italian tax authorities in Swiss banks – Il Sole 24 Ore

The Italian tax authorities in Swiss banks – Il Sole 24 Ore

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This article was published on 16 January 2015 to 06:36 hours.

“The agreement provides

anti-avoidance tools

unthinkable

A few years ago, “

rome

Exchange of information on all taxes of every kind and description. In no case will be denied information held by banks, financial intermediaries or trustees. The demand for data and information from the tax authorities will only cover acts and banking information subsequent to the signing of the agreement and will be able to focus on individual taxpayers as well as on specific groups of subjects. But in the latter case only on the basis of specific behaviors are “tax” and not that they share, but never on the basis of their identification data. Not only. For cross-border workers stop to rebates from Switzerland to Italian municipalities, to repay the coffers of the mayors of the border will be directly Rome. How? With a change of taxation yet to be written but which essentially provide for a withdrawal of the Swiss 60/70% and one all made in Italy on the remaining part of the income of the employee.

The agreement

These are the main new tax agreement reached yesterday between Italy and Switzerland after three years of negotiations. A tax agreement that certainly for Italy is also a push and a facilitation accession to the voluntary disclosure by Italian taxpayers who have capital in the 26 Swiss cantons.

The signing of the agreement itself between the finance ministers will arrive in mid-February, however, both before March 2 as required discipline on return of capital and therefore with the ability to avoid the doubling of penalties and the doubling of the terms of the investigation (see the service here in low). At present yesterday to the press the content and structure of the agreement was Vieri Ceriani, adviser on tax policies of the Minister of Economy, Pier Carlo Padoan, who after three years of negotiation “blesses” the agreement calling it “epochal” and able to “provide tools to combat tax evasion unthinkable a few years ago.”

Four chapters

In all, four chapters of Italy-Switzerland. In addition to the exchange of information with the amendment of the Convention against double taxation agreement provides a real road map that will bring in the coming months and with steap following: the definition of a new taxation for cross-border workers; Switzerland’s exit from the black list; the definition of a number of issues that concern Champion of Italy, the Italian enclave in Switzerland, VAT deductibility elevetica the movement of goods. But first things first.

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