Italy is planning to sign a tax information sharing agreement with Switzerland in Berne next month as part of its efforts to combat tax evasion.
Under the agreement, Italian tax authorities will receive tax information about their taxpayers who hold assets in Swiss bank accounts, which will enable them crack down on tax evaders.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The pact aims to define new tax rules for cross-border workers and also remove Switzerland from the Italian black list of countries that do not fully cooperate on tax evasion.
Additionally, both the governments are planning to sign a protocol of amendment to the existing double taxation agreement (DTA), as well as a roadmap with parameters.
The accord marks as a major step towards a wider tax agreement the two countries have been negotiating since 2012.
Italy’s chief negotiator Vieri Ceriani said: "We have an agreement, it should be signed around the middle of next month."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"After years of controversy, this agreement between Switzerland and Italy is laying new foundations that will make it possible to strengthen cooperation, improve relations between the two countries and develop bilateral economic relations in a constructive atmosphere," the finance ministry said.
