Representatives of 52 countries and jurisdictions that are part of the OECD global forum on tax issues signed today in Berlin the agreement which provides for the end of banking secrecy starting from 2017. For Italy, Economy Minister Pier signed Carlo Padoan while ministers Wolfgang Schauble and Michel Sapin respectively affixed their autographs for Germany and France.
The group of 52 has undertaken to adopt the new single global standard for the automatic exchange of information on taxpayers with accounts in so-called tax havens as early as 2017. It should be noted that the information that will be exchanged starting from that year will also concern accounts opened at the end of 2015. The other countries that have not signed today – in all there are 123 jurisdictions that are part of the global forum – will sign in the coming months. In their case, the single standard will come into effect from 2018.
"The agreement signed today represents an example of structural reform implemented at an international level," commented Economy Minister Pier Carlo Padoan.
