CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Italy To Extend Tax Amnesty To Companies

Italy To Extend Tax Amnesty To Companies

by Ulrika Lomas, Tax-News.com, Brussels

17 December 2002


It has emerged this week that the Italian government is considering launching a tax amnesty for companies in order to encourage the repatriation of funds covertly transferred offshore.

Switzerland was the finance centre hardest hit by the Italian government's November 2001 amnesty for individuals, and according to national news service, Swissinfo.org, the Swiss Banker's Association has predicted that a similar amount to that repatriated from Switzerland by individuals - some SFr88 billion - could return to Italy under this latest initiative.

Swissinfo reported that the Italian tax authorities are prepared to turn a blind eye to funds siphoned out of the country via offshore firms, and also to assets removed from the country as a result of illegal accounting practices, in return for a 20% flat tax on all repatriated funds.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »