The Italian Minister of Economics and Finance confirmed that there will be no changes to the existing tax laws affecting high net worth investors in Italy during an official visit to London.
"The Italian government has no plan to introduce changes in the taxation in the future, what we had in our agenda has been accomplished," Vittorio Grilli said.
Italy’s tax amnesty (known locally as the scudo fiscale, or fiscal shield) generated 95bn ($129bn) of newly declared assets between mid-September and mid-December 2009.
"We have already introduced new forms of property taxes both in real estate and in financial assets. In the last budget there are no new taxes for wealthy individuals," he added.
Grilli reassures UK investors on reforms
After visiting the Chancellor of the Exchequer George Osborne at 11 Downing Street for a technical speech on banking union, Grilli spoke with several investors in the City.
Grilli reassured UK investors that the Italian government has taken care to ensure that recent reforms such as those regarding the pension system, labour market and property taxation will not be removed.
Investors, who welcomed the new reforms introduced by Monti, had expressed concern about Italy’s political future after the next general election, which is due to take place in spring 2013.
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