Godot is almost there. After waiting two and a half years, Italy and Switzerland have finally reached an agreement on the return of capital. "A matter of days - say government sources -, only the last details are missing". The negotiations should close within a week (there was talk of the 15st January), to then arrive at the official signing in early February.
If the roadmap is respected, the Executive will be able to make it more profitable also for Switzerland the "voluntary disclosure". In fact, the new law establishes that 2 March is the last day for signing tax agreements that allow the countries included today in the "black list" to pass into “white list” and thus to benefit from more favorable treatment in terms of the emergence of capital.
The promotion from the blacklist to the whitelist good for Switzerland, because it will allow its businesses to operate more easily in Italy. On the other hand, our country believes it can recover a real treasure through the fight against tax evasion and "voluntary disclosure".
In fact, in Swiss banks, Rome estimates that there are around 10 deposits in the name of Italian citizens, for a total amount of 130-150 billion, about 70% of the amount parked in tax havens (according to Bern, however, they would be less than 100 billion). The heart of the agreement is in the information exchange, which will probably be automatic from 2018 but until then will have to take place at the request of the Italian authorities.
as to voluntary disclosure, the law establishes that the tax evader will have to pay all unpaid taxes but will have discounts on penalties and interest, will not incur the penalties envisaged for tax crimes committed and above all will not be prosecuted for the new self-laundering crime, which was introduced in measure precisely with the aim of giving a boost to emergence.
Payment by the perpetrator of the violations must be made "in a single solution" or in "three monthly installments" and the procedure can be activated by 30 September 2015 for violations committed up to 30 September last. Who wants, at the end of the various operations, he will be able to keep the funds in Switzerland, but will have to continue to pay taxes in Italy.
