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The EU member states taking part in the proposed EU financial transactions tax will decide next month whether or not to proceed with the controversial tax, according to Austrian Finance Minister Hans Joerg Schelling. Read Full Story
Italy and Switzerland have agreed to allow group requests for information relevant in tax matters. Read Full Story
Hong Kong has signed agreements with six jurisdictions to automatically exchange financial account information in tax matters. Read Full Story
In a bid to attract wealthy individuals to relocate to the country, and high net worth Italian expats to return there, the Italian authorities have introduced a EUR100,000 (USD106,251) per year substitute tax on foreign income and gains for previous non-doms who declare Italy as their primary tax residence. Read Full Story
It still remains uncertain as to how Italy's additional 2017 fiscal adjustment required by the European Commission will be funded, but a major part could involve cuts to individual income tax deductions. Read Full Story
Ex-premier Matteo Renzi's Democratic Party has refused to support hikes to excise taxes that are being proposed as a major element in Italy's additional 2017 fiscal adjustment, required by the European Commission. Read Full Story
The OECD has said Italy should limit its fiscal plans to those measures that would not inhibit improved economic growth. Read Full Story
The Italian Government's measures against tax evasion yielded additional tax revenue of around EUR19bn in 2016, 28 percent more than in 2015. Read Full Story
The Italian Minister of the Economy and Finance, Pier Carlo Padoan, sent a letter to the European Commission on February 1, confirming that Italy will introduce additional budgetary measures to reduce its forecasted fiscal deficit for this year. Read Full Story
The OECD is seeking taxpayers' input on the mutual agreement procedure frameworks in place in the second batch of countries that will now be peer reviewed under Action 14 of the OECD's base erosion and profit shifting Action Plan. Read Full Story
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