Voluntary disclosure is expensive, but for those who have illegally brought money abroad it is also the last chance to make peace with the tax authorities. The new 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 author 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.
Without prejudice to the fact that the evaded taxes will have to be paid in full, to date the administrative penalties range from 3% to 15% of the undeclared sums for white list countries and from 6% to 30% for black list countries. With the voluntary disclosure, on the other hand, the sanctions will be reduced "by an amount equal to half of the statutory minimum", i.e. 1,5% and 3%, respectively half of 3% and 6% (this is one of the reasons for which the agreement with Switzerland is so important, since it allows Bern to go from black to white list).
The discount will be possible in the event that the assets are transferred to Italy or to countries that allow an effective exchange of information with our country, or if the taxpayer authorizes the foreign intermediary to transmit all the information. If at least one of these two conditions does not occur, the fine will be equal to the statutory minimum reduced by ¼, i.e. 2,25% for undeclared assets held in white-listed states and 4,5% for those in black-listed states . In the event of a facilitated definition of the sanctions (pursuant to art. 16, paragraph 3, Legislative Decree no. 472/1997) there is a further reduction to a third of the minimum.
As for the sanctions in the event of omitted or untrue declaration of income tax and related surtaxes, substitute taxes, Irap and VAT, they are reduced by ¼ of the minimum amount established by law. In no case, therefore, will the final bill be light, but not taking advantage of the voluntary disclosure will mean losing the last opportunity to regularize one's position without running the risk of much heavier administrative and penal sanctions.
