Fisco, Italy-Vatican agreement. Annuities finance taxed … – Quotidiano.net

Vatican City, April 1, 2015 – The Vatican will pay taxes on income fund from 2014 . And ‘because it provides “the Convention” in the tax signed today by Italy and the Vatican. The rest has known the Holy See, explaining that it is a “new step towards financial transparency.” The agreement, signed by the Secretary for Relations with States of the Vatican, Paul Richard Gallagher, and the Minister of Economy, Pier Carlo Padoan, also provides for the exchange of information from 2009 and the possibility of regularizing the repatriation capital. The agreement also contains provisions on ‘ exemption of real estate of the Holy See , which transpose the provisions of the Lateran Treaty.

” Contrary to the provisions of Italy to countries that were on the ‘black list’, for the Vatican, that there was inserted, no retroactivity “. This was stated by the Deputy Director of the Press Office of the Holy See, Father Ciro Benedettini. In any case, he added, “the exchange of information will cover the tax years starting from January 1, 2009″. And “the Convention, from the date of entry into force, will allow full compliance with simplified procedures, the tax obligations related to financial assets held by financial institutions carrying on activities in the Holy See from some individuals and legal entities for tax purposes resident in Italy “.

“With the signing of the Convention on tax Holy See and Italy are even closer” said Archbishop Paul Richard Gallagher.

The scope of the Tax Convention between Italy and the Vatican signed today “about the complex world of the Institutes of Consecrated Life, of Societies of Apostolic Life, nonchédi all other entities with legal personality and canonical waiting to works of piety, charity or apostolate, spiritual or temporal, as expected of the canon 114 of the Code of Canon Law. ” The precise a statement published by L’Osservatore Romano. “One area not least concerns then – it says – the number of employees of the Holy See and the State of Vatican City, as well as all pensioners of these institutions, which receive at the Institute for Works of Religion payment of the respective salaries or pensions. Even for them is provided access to that tax simplification “.

So religious institutions and Vatican employees will now pay taxes on their “investment income” but the Holy See will not do the same for properties that have been recognized by Italy as extraterritorial. The precise Monsignor Paul Richard Gallagher: “With regard to the properties located in the extraterritorial zones, the Convention reaffirms the exemption from any tax which had been recently the subject of jurisprudential uncertainties”.