Switzerland and Italy reach agreement on tax information exchange

The Switzerland and Italy have reached an agreement in principle to sign a protocol to their double tax treaty to make provision for the OECD standard for the exchange of tax information upon request, the Swiss government announced January 16.

The countries have also initialed a roadmap agreeing to the removal of Switzerland from Italian black lists as soon as possible and stating their intention to introduce automatic exchange of information the countries in the future. It was also agreed that Italian taxpayers with an account in Switzerland can take part in the Italian voluntary disclosure programme (VDP) under the same conditions as those for countries that are not on a black list

Both documents are expected to be signed before the March 2 deadline set for Italy’s VDP.

See:

• Switzerland release – Switzerland and Italy reach agreement in principle on tax issues