Italian resident taxpayers are required to report all of their assets held outside of Italy, on form RW of their Italian income tax returns (which include various sections and can be considered the equivalent of the FBAR and other international tax returns that are required to be filed in the United States).
Resident taxpayers subject…
Italy enacted a new law that significantly amends its rules requiring Italian resident individual taxpayers to report their foreign financial investment and accounts and other assets capable of generating foreign source taxable income.
SCOPE OF REPORTING
The fist significant change reduces the scope of the reporting. it eliminates the duty to report intra year transfers…
Italian resident taxpayers are required to report their foreign financial investments and assets which can generate foreign-source income subject to tax in Italy, by filling out a special part of their annual income tax return referred to as form RW. Foreign individuals who have (personal and business) interests and contacts with Italy that may trigger Italian tax residency under Italian residency or domicile tests would be subject to the same reporting obligations. Italy’s tax administration is stepping up its enforcement efforts in this area of law and penalties for failure to report are particular harsh and difficult to mitigate after the fact. We have prepared an overview of Italian international tax reporting rules with a general discussions of some of the relevant issues that arise in this area of law.
Continue Reading Italian International Tax Reporting Rules Through Part RW of Italian Tax Return
Secondo quanto riportato di recente su Bloomberg, diverse banche svizzere sarebbero in procinto di siglare un accordo con il fisco americano a chiusura di un contenzioso in materia di evasione fiscale. In forza dell’accordo le banche si disporrebbero a pagare una somma in via transattiva e fornire al fisco americano le informazioni sui propri clienti…
Secondo la Risoluzione 142/E del 30n Dicembre 2010, Anche il diritto di nuda proprietà relativo ad un investimento estero suscettibile di produrre redditi imponibili in Italia va dichiarato sul modulo RW, facendo riferimento al costo storico risultante dall’atto costitutivo del medesimo, parallelamente alla dichiarazione del diritto di usufrutto da parte del titolare del medesimo.
Continue Reading Anche la nuda proprietà nel modulo RW