Switzerland will be removed from the Italian black list
Federal Councillor Karin Keller-Sutter and Italian Finance Minister Giancarlo Giorgetti signed a political declaration concerning the regularization of some pending tax issues. Italy removes Switzerland from 1999 black list. Also found a transitional solution on smart working border workers to be applied until June 30, 2023.
The signed political declaration entails Switzerland’s exit from the black list of individuals drawn up by Italy in 1999. This solution removes an administrative hurdle in tax relations between the two countries. This list was designed to ferret out wealthy taxpayers who declare fictitious residence abroad to avoid paying taxes in Italy.
In addition, both sides agreed on the conclusion of an amicable agreement on teleworking that will be signed as soon as Italy has passed the legal basis for removing Switzerland from the black list. This amicable agreement includes a transitional solution, valid from Feb. 1 to June 30, 2023, regarding the taxation of telework for cross-border commuters under the 1974 agreement.
Finance Minister Karin Keller-Sutter said, “The signed declaration finally settles two important open tax issues between Switzerland and Italy.“
Intesa raggiunta tra la Consigliera federala Keller-Sutter e il ministro italiano Giorgetti: la🇨🇭sarà stralciata dall’ultima lista nera 🇮🇹 su cui ancora figura. Contestualmente è stata trovata una soluzione transitoria in ambito di #telelavoro. @MEF_GOV https://t.co/TFF29eQOxM pic.twitter.com/C1WQ66pF1N
— EFD_DFF (@efd_dff) April 20, 2023
During the talk, Italian Finance Minister Giorgetti also expressed confidence that in the coming weeks the Italian Parliament will ratify the new agreement on the taxation of cross-border workers signed in 2020. In Switzerland, the agreement was approved by the federal chambers as early as March 2022.
Il Federalismo Fiscale e il Regionalismo differenziato: il divario nord-sud
Black list countries or tax havens
Black list countries, also known as tax havens, are nations where a privileged tax regime with very low or no taxation is in place. These countries usually do not exchange tax information with other countries.
