AGREEMENT
Milan , February 23, 2015 – 16:35
Italy and Switzerland signed the agreement on tax matters. At initial it in Milan Minister Pier Carlo Padoan and Federal Councillor Widmer Schulumps. “With this signing we make a very important step forward in relations between the two countries. The agreement, which required a long and difficult but that it is successfully completed, provides two different documents, a first law on the exchange of information which must now be examined by parliaments and political one on the road map to follow to define additional issues such as the tax treatment of transfontalieri and treatment of Champion of Italy. ” This was stated Padoan after the signing of the agreement with Switzerland on the exchange of information between the two countries. “This agreement is part of an international process that went assuming great importance in recent years under the guidance of the OECD and the G20.”
Benefits
” This deal cost us a euro, I can say with certainty that will bring in revenue to more than one ‘ euro but do not go beyond “replied the minister Padoan when asked what concrete benefits in terms of increased revenue Italy can expect from the agreement signed today with Switzerland. “In the longer breath – said Padoan – there will be great benefits for the Italian public finances because the agreement sets the conditions for greater transparency and confidence between taxpayers and the administration and makes it more friendly and efficient management of tax issues in both countries. ” Even Prime Minister Matteo Renzi said the agreement on twitter: “Billions of Euros who return to the State”
Workers
” There will be reciprocity in the treatment of these workers – said Padoan – and it will come to a situation where the employee will pay a maximum quota of 70 % income tax in the country where he works (against 60%) present, and the remaining 30% in the country of residence. The tax burden on cross-border will not be lower than the current but not initially higher and will be gradually brought into line with that of other cross-border workers, “Padoan said.
Tax havens
The agreement signed by Italy and Switzerland” goes in the direction of the elimination of tax havens – has Padoan stated -. There are other tax havens but this agreement goes in the direction of their elimination. For them it will be less convenient and more difficult to resist the exchange of information and it will be less convenient to turn to these countries. ” Padoan has announced that February 26 Italy will sign a deal on tax matters with Liechtenstein.
23 February 2015 | 16:35
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