The surge is already a reality, but a real explosion of applications for adhesion to voluntary disclosure is expected from September. So far, according to some rumors reported today by the Corriere della Sera, the taxpayers who have asked to adhere to the procedure to make peace with the tax authorities and bring illegally exported capital back to Italy have been over 10 thousand, a number which, however, according to insiders , is expected to rise to 100 by the middle of next month.
This exponential and sudden growth is due to the fact that a law eagerly awaited by all potential users of the voluntary disclosure will enter into force on 2 September. This is the doubling of the terms of assessment.
“In a nutshell – Fabrizio Vedana, deputy director general of the trust union, explained a few days ago in an interview with Il Messaggero – it is a substantial discount for those who bring the money back to Italy. The voluntary is not an amnesty, because to regularize the capital it is necessary to pay all the taxes evaded. The only discount is on penalties and interest”.
Taxes, however, “must be paid only on the periods for which the tax authorities can carry out checks – continued the expert -. Until July, with the old rules on doubling terms, it was possible to go up to 8-10 years behind. With the limitation introduced, however, the tax authorities will be able to ask for back taxes only for the last 4-5 years. In practice, the price for bringing out capital has halved”.
In theory, the terms for adhering to the voluntary disclosure expire on 30 September (for violations committed up to 30 September 2014), but at this point it is not excluded that the Government, to further increase the proceeds, decides to postpone the deadline to the end year.
Also read: "Voluntary disclosure, here is the tax guide"
