Italy - The New Italian Tax Shield: Amnesty for Undeclared Offshore Assets
- P. Mastellone
- European Taxation, 2010 (Volume 50), No 4
- 15 February 2010
In this article the author analyses the new Italian Tax Shield (Scudo fiscale), which allows taxpayers to disclose financial activities and properties illegally held abroad and ignored by the tax administration, subject to payment of a forfait tax and without being subject to certain tax assessments and tax and corporate criminal charges. The author illustrates the operative aspects of the provisions and potential problems.