Tax treaty between Italy and the Vatican, is’ to taxes on income … – AGI – Agenzia Journalistic Italy

16:38 April 1, 2015

(AGI) – Vatican City, April 1 – “Transparency and healthy collaboration with the Italian” are the criteria that inspire the agreement signed today at the Vatican, at the Secretary of State, between the Holy See and the Government of the Italian Republic in tax matters. He
said the deputy director of the Holy See Press Office, Father Ciro Benedettini, stressing that the main news’ concerns “pensions fund that will be taxed from 2014, while other taxes remain subject to common standards.”

No taxation on property extraterritorial Vatican

The Convention ‘was signed by the Holy See by Archbishop Paul Richard Gallagher, Secretary for Relations with States and, for the Italian Republic, the monistro of? Economics and Finance, Pier Carlo Padoanprovvisto full powers. The scope of the Tax Convention between Italy and the Vatican signed today “about the complex world of the Institutes of Consecrated Life, the Company ‘of Apostolic Life, as well as’ all other bodies with personality’ legal and canonical waiting to works of mercy ‘, apostolate or charity’, spiritual or temporal, as expected of the canon 114 of the Code of Canon Law. “The precise
a note published in L’Osservatore Romano. “One area not least concerns then – it says – the plurality ‘of the employees of the Holy See and the State of the City’ Vatican, as well as’ all the pensioners of these institutions, which receive at the Institute for the Works of Religion payment of their salaries or pensions. Even for them and ‘provided access to that tax simplification “.

Vatican-Italy: no RETROACTIVE ‘but exchange news from 2009

“In contrast to the provisions of Italy to countries that were on the’ black list ‘, for the Vatican, that there was inserted, there is no’ RETROACTIVE ”. 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 concern ‘the tax years starting from January 1, 2009″. And “the Convention, from the date of entry into force, will allow ‘full compliance with mode’ simplified tax obligations relating to the activities ‘Held at entities carrying out activities’ financial in the Holy See from some individuals and legal entities tax resident in Italy. ” The agreement signed today prevde that “the same individuals will have access to a regularization of activity ‘, with the same effects as established by Law no. 186/2014
“. “The part of perhaps the most ‘important of the Convention is the agreement on the exchange of information on request for tax purposes, the regulation of which introduces the complex articulated the Convention”, precise to the apret its’ foreign minister’ Vatican, Monsignor Gallagher.

“With this agreement – said the prelate English Osservatore Romano – it states that the Holy See will communicate ‘to the Italian State the’ information likely to be relevant to the administration or enforcement of the law relating to taxes of any kind and description ‘, no chance’ to oppose to the contrary any bond of secrecy in financial matters. ” “The provisions – therefore – appear in this regard rather large as corresponding to the international standard more ‘accredited and recently, such as the one approved by the Organization for Economic Cooperation and Development (OECD) and also adopted by Italy in recent agreements with the Switzerland, Liechtenstein and the Principality of Monaco. ” Osservatore Romano, Monsignor Gallagher adds that “even this content, like the previous one, 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 can justify the request. ” In this regard, reports the ‘number two’ of Vatican diplomacy, “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 maximum transparency in the area of ​​financial relations, demonstrating at the same time overall suitability ‘its own institutional and legal framework to effectively support the comparison with the more’ high international standards in the field. “
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