• Type: Publication series
  • Date: 1/29/2014

Italy – New Circular Brings Further Changes to Financial Asset Reporting System 

Italy’s tax agency has issued a circular that clarifies the Foreign Investment Monitoring Regime and foreign asset reporting requirements. The circular makes clear that the rules apply not only to individuals who hold foreign assets directly, but also to individuals who hold assets through companies or other legal entities. In addition, the de minimis threshold for reporting foreign financial assets has been abolished. Therefore, reporting will apply to a much wider population and even minimal shareholdings and other financial investments abroad will now need to be reported.


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