Common reporting standard & voluntary disclosure

April 3, 2017 The Italian tax authority released a Provision on 31 March 2017, extending the deadline for employees who have transferred their residence to Italy by 31 December 2015 in order to access to the special tax regime provided by Legislative Decree no. 147/2015. The employees may opt until 2 May 2017 for the facilitated measure that provides a 30% reduction of the taxable basis (year 2016) and 50% reduction (year 2017) for the…

10 febbraio 2017 Il Decreto  28 dicembre 2015 (Gazz. Uff. n. 303 del 31 dicembre 2015 Serie Generale), in vigore dal 1 gennaio 2016, ha dato attuazione alla legge 18 giugno 2015, n. 95 e alla  direttiva  2014/107/UE del Consiglio,  del  9  dicembre  2014,  recante  modifica  della  direttiva 2011/16/UE  per  quanto  riguarda  lo  scambio  automatico  obbligatorio  di informazioni nel settore fiscale. Dal 1 gennaio 2016 le Autorità fiscali degli Stati OCSE potranno dunque scambiarsi informazioni…

6 febbraio 2017 Dal 7 febbraio sarà possibile per i contribuenti che si sono qualificati fiscalmente residenti in Italia negli anni dal 2004 al 2015 regolarizzare le proprie posizioni detenute all’estero, non dichiarate o riportate in maniera inesatta nel quadro RW degli anni precedenti, utilizzando il nuovo modello di  voluntary disclosure nazionale ed internazionale fornito dall’Agenzia delle Entrate. I contribuenti che si sono avvalsi del precedente modello dovranno ripresentare l’istanza secondo le nuove specifiche, prestando…

January 31, 2017 The Ministry of Economy and Finance has amended Annexes C (List of jurisdictions object of communication) and D (list of participating jurisdictions) related to D.M. 28 December 2015 concerning the mandatory automatic exchange of tax information. The above Decree rules the methods for recording, transmission and communication to the Italian Tax Authority of the information relating to financial accounts, as well as procedures relating to due diligence for tax purposes. The new…

October 25, 2016 Article 7 of Law Decree no. 193 of 22 October 2016, published in the Official Gazette n. 249 of 24 October 2016, extends the deadline for the voluntary disclosure procedure in order to regularize the undeclared foreign investments and foreign financial assets owned by Italian tax resident individuals. Taxpayers who infringed the tax monitoring obligations under D.L. n. 167 of 28 June 1990 can voluntarily regularize their positions in the period ranging…

March 13, 2015 The Italian Tax Authority releases Memorandum n. 10/E dated March 13, 2015, containing the guidelines about the Voluntary Disclosure procedure, clarifying the application field, the fulfillments, the application range and related penalties. For any further information, please contact us.

Italy and Monaco have just signed an important cooperation agreement. The agreement modifies the double tax treaty, introducing the automatic exchange of financial information between the two Countries. Such deal will allow the Italian taxpayers, who are likely to apply for the international voluntary disclosure, to benefit from a penalty reduction as a result of the assets repatriation. For any further information, please contact us.

24/02/2015 Italy and Switzerland have just signed an important cooperation agreement. The agreement modifies the double tax treaty, introducing the automatic exchange of financial information between the two Countries. Such deal will allow the Italian taxpayers, who are likely to apply for the international voluntary disclosure, to benefit from a penalty reduction as a result of the assets repatriation. For any further information, please contact us.