Tax evasion, falls the secret also with the Vatican – AGI – Agenzia Journalistic Italy

Economy

20:54 April 1, 2015

(AGI) – Vatican City, April 1 – “In the line of transparency and a healthy collaboration”, the Vatican is committed to demand on behalf of Italy taxes payable on financial income obtained in its territory by religious organizations or Italian citizens. Remain exempt salaries and pensions of Vatican employees and – as established by the Lateran Treaty of 1939 – no tax gravera ‘Institutions of the Holy See and buildings extraterritorial.
In practice: the City’ Vatican to be a waiver “tax haven” for the religious orders and their employees who may have inherited from relatives or have access to income, other than work, having given up on this opportunity ‘for any other situation: how and’ known, in fact, the different accounts were already ‘closed by the IOR to the decision of Pope Francis. The Holy See also recognizes the authorities’ financial in both countries the right to verify compliance with the “tax treaty” signed today at the Vatican, to Italy by the Minister of Economy and Finance and Pier Carlo Padoan for Santa See from the Secretary for Relations with States, Monsignor Paul Richard Gallagher, who commented: “the two banks of the Tiber are now more ‘close’. For its part Italy agrees not to further claims that according to the Holy See would dispute the right to be a sovereign state, as stipulated by the Lateran Pacts of 1929 and confirmed by the agreements of the revision of the Concordat of 1984.
The Convention and ‘retroactive to 2014 and expected to be given to Italian request information on the years leading up to 2010. “With this agreement – in fact, the archbishop explained Gallagher – states that the Holy See will communicate’ to the Italian State information likely to be relevant to the administration or enforcement of the law concerning taxes of every kind and description no chance ‘to oppose to the contrary any bond of secrecy in financial matters. ” According to the same Gallagher, “the provisions appearing in this regard rather large as corresponding to the international standard more ‘accredited and recently, such as the one approved by the OECD and also adopted by Italy in recent agreements with Switzerland, Liechtenstein and the Principality of Monaco “. The agreement obviously “will operate ‘in a unilateral way,” according to that’ the only Italian tax law, considered that the Holy See (and the State of the City ‘Vatican) have no reason to ask for information in the absence of a tax system that can justify the request.
In regard Gallagher has also joked noting how “amazing” that you wish you still need to highlight that the agreement on the exchange of information achieves a significant step of the Holy See to the goal of full transparency in the field of financial relations, demonstrating at the same time the overall suitability ‘its own institutional and legal framework to effectively support the comparison with the more’ high international standards in the field. “In
Convention are repeated the provisions of the Treaty Lateran that can in some way be affected by the contents of the Convention. In particular: the exclusion of any change to the exemption set out in Article 17 of the Lateran Treaty with reference to the salaries of employees of the Holy See; as well as ‘the exclusion of central bodies of the Catholic Church, under Article 11 of the Treaty, from the provisions more’ strictly tax of the Convention concerning the exchange of information and the payment of taxes on financial income. The Treaty, said the ‘foreign minister’ vatican, “brings to fulfillment in relation to the taxation of the peculiar properties located in the extraterritorial zones, of which reaffirms the exemption from any tax which had been recently subject to uncertainties jurisprudential “.
According to Bishop Gallagher,” the Convention on taxation and ‘destined to mark an important milestone in the cooperation between Italy and the Holy See, which confirms that these reality’, linked by history, they know to move forward together and support each other, preserving and reinforcing constraints peculiar and characteristic, also in an international context more and more ‘complex and global. “The signing of
‘ was also an opportunity to present at the top of the Secretary of State’s new ambassador d ‘ Italy to the Holy See that, meeting with journalists, he confided that he was inmpressionato the friendliness’ of relations between the authorities’ of the two states.
believed that these relations were rather more ‘formal. (AGI).

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