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 'White Lists' Liechtenstein

Italy 'White Lists' Liechtenstein

by Ulrika Lomas,, Brussels

29 August 2016

The Italian Government has placed Liechtenstein on its "white list" of jurisdictions deemed to be cooperative in tax matters.

Finance Liechtenstein said a ministerial order to move the jurisdiction to Italy's white list was approved on August 9 and published on August 22.

The Italian Government's move comes after Liechtenstein signed an agreement with the EU in October 2015 on the automatic exchange of information on financial accounts from 2017.

Under this agreement, EU member states will receive the names, addresses, tax identification numbers, and dates of birth of their residents with accounts in Liechtenstein, as well as other financial and account balance information.

The Government of Liechtenstein reported that the country's inclusion on the white list has "significant advantages" for companies in Liechtenstein. These include the reduction of tax at source on dividend payments, the minimization of fund taxation, and lower administrative costs. "Particular benefactors will be Liechtenstein's insurance companies, which must no longer name tax representatives in Italy," the statement said.

Liechtenstein also recently filed its instrument of ratification of the Multilateral Competent Authority Agreement on country-by-country (CbC) reporting.

With the move, Liechtenstein will be able to share the information contained in the CbC reports with tax treaty partners that have implemented the necessary reporting standards. Liechtenstein was among the first signatories of the Agreement, which as of June 30, 2016, had 44 signatories.

TAGS: Finance | tax | banking | insurance | Liechtenstein | transfer pricing | Italy | standards | mutual assistance agreement | European Union (EU) | Europe | BEPS

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 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 »