Holy See
Milan , April 1, 2015 – 11:59
Date historical relations between Italy and the Vatican. The Vatican Secretary for Relations with States, Paul Richard Gallagher, and Economy Minister, Pier Carlo Padoan, today signed a convention on tax matters. As part of the special importance of bilateral relations – reads a note – the ‘Italy and’ the first country with which the Holy See signs an agreement governing the exchange of information that will cover the tax years starting from January 1, 2009 .
The Convention, from the date of entry into force, will allow full compliance with mode ‘simplified tax obligations related to financial assets held by financial institutions carrying on activities in the Holy See from some individuals legal and tax resident in Italy. The same subjects will have access to a procedure of regularization of the same activities, with the same effects as provided by law on voluntary disclosure. This means that Italian citizens who have accounts at the IOR, the so-called Vatican Bank, will be able to include in the Italian capital, with reduced penalties and no criminal consequences. In this way their accounts of the IOR will be closed, since it is customers who no longer have ‘right to have the bill in the Vatican, according to the new criteria. IlCorriere della Sera had anticipated the news on Feb. 25, after ‘agreement between Italy and Switzerland. March 5 news confirmed by the Prime Minister Matteo Renzi in an interview to ‘Espresso.
April 1, 2015 | 11:59
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