10 November 2016 Italy reopens voluntary disclosure program The Italian government has approved the reopening of the "voluntary disclosure program," to encourage the return of offshore funds to the Italian tax system. New regulations were published on October 24, and are effective going forward. The program, which is also open to employers who have not met their withholding obligations on employment income, is an opportunity for taxpayers to reduce administrative penalties and under certain circumstances, avoid criminal sanctions for noncompliance. A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details. Document ID: 2016-1920 |
