Fiscal Monitoring of Assets and Properties Held Abroad by Italian Resident Individuals, Non-Commercial Entities, Simple Partnerships and Similar Entities

Italy recently enacted important amendments to the fiscal monitoring rules for foreign held assets and properties, applied to certain resident taxpayers. This article intends to briefly outline the (amended) Italian tax monitoring rules, the novelties introduced and assess whether the Italian authorities succeeded in their attempt to make this rule EU law compliant. The article addresses whether or not the fiscal monitoring rules can survive considering recent developments in terms of exchange of information.