Tuesday, March 2, 2010
A joint declaration from the recent Italian-Swiss inter-parliamentary delegation hoped for a resumption, as soon as possible, in negotiations for the new double taxation agreement (DTA) between Italy and Switzerland.
Negotiations on the revision of the DTA, the final two rounds of which took place in July and September 2009, were suspended in November last year. This followed the Italian Revenue Agency’s investigation of the Italian offices of Swiss financial institutions, and Italy’s continued maintenance of Switzerland on the “black list” within its current tax amnesty, due to the lack of tax information exchange between the two countries.
The inter-parliamentary meeting, the third held between the two countries following those of 2005 and 2007, called for the DTA negotiations to be restarted with respect to a mutual interest in tax transparency.
In a spirit of bilateral collaboration, the delegation looked for a withdrawal of Switzerland from Italy’s “black list” given that Switzerland has also regularized its position with the Organisation for Economic Co-operation and Development.
Finally, the declaration drew attention to the problems being experienced by many people on the borders between the two countries, who live in Italy and work in Switzerland. Care should be taken, it said, that capital accumulated by them under compulsory pension arrangements in Switzerland should not remain penalized.