{"id":8749,"date":"2017-01-11T09:43:21","date_gmt":"2017-01-11T08:43:21","guid":{"rendered":"http:\/\/explegal.local\/voluntary-disclosure-2\/"},"modified":"2026-07-08T14:55:44","modified_gmt":"2026-07-08T12:55:44","slug":"voluntary-disclosure-2","status":"publish","type":"post","link":"https:\/\/explegal.it\/en\/voluntary-disclosure-2\/","title":{"rendered":"Voluntary disclosure"},"content":{"rendered":"

Author:\u00a0Simone Maria d’Arcangelo<\/p>\n

Decree Law 22 October 2016 n. 193\/2016, related to the 2017 Budget Law (entitled “Urgent measures on taxation and for the financing of non deferrable need<\/em>” and in force since last October 24) has extended the deadline – with the exception of those who joined the first voluntary<\/span> – for the declaration of activities held illicitly abroad carried out up until September 30, 2016 by adhering to the new version of the voluntary disclosure<\/em>.<\/p>\n

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Simone Maria D’Arcangelo<\/em><\/small><\/div>\n<\/div>\n

The program contemplates the payment in full of the taxes due and the application of reduced penalties in order to rectify the failed submission of the tax return and the non compliance with the fiscal monitoring regulation, thus avoiding the (highly possible) ascertainment risks deriving from the exchange of information which may be requested with respect to acts or events occurred from the date of signing of the agreements.<\/p>\n

With particular reference to Switzerland, Liechtenstein and the Principality of Monaco, the execution of the agreements on the \u201cautomatic exchange of information\u201d in addition to excluding such countries from the so-called \u201cblack list<\/em>\u201d, it will allow taxpayers to benefit from significant incentives on penalties (reduced up to 16.6%) and on ascertainable tax periods for direct taxation and fiscal monitoring purposes.<\/p>\n

A similar consideration applies to the Cayman Islands, Cook Islands, Guernsey, Jersey, Gibraltar, Isle of Man, Hong Kong, and Andorra that in the second version of the voluntary<\/em> will be considered “black list with agreement<\/em>“, with the consequent application of reduced sanctions.<\/p>\n

Individuals<\/strong><\/span>, non commercial entities<\/strong><\/span> and small companies fiscally residing in Italy<\/strong><\/span> during the ascertainable years, i.e. 2009 (for Section RW only) 2010, 2011, 2012, 2013, 2014 and 2015, can benefit from this program.<\/p>\n

With particular reference to non commercial entities, it is worth mentioning that the Italian tax regulation provides for specific anti-elusive dispositions in order to determine the fiscal residence of trusts and institutes which have the same content in countries that do not allow the exchange of information, foreseeing, in addition to general criteria (registered office in Italy \u2013 administration office in Italy \u2013 main object of the activity carried out in Italy for most of the taxable period), some \u201cpresumptions\u201d that, if not proved otherwise, can lead such entities to be regarded as entities fiscally residing in Italy.<\/p>\n

As a consequence of the presumption of fiscal residence in Italy, the income of trusts or similar institutes, regardless of their location, becomes taxable in Italy under the worldwide taxation principle<\/em> with all relative effects in terms of violations of statement obligations and, in particular, of the tax monitoring regulations.<\/p>\n

If the violations are not rectified with the voluntary disclosure<\/em>, the ordinary regime will apply, providing an extension of the taxable annuities, the application of a penalty regime far more burdensome and fiscal crimes prosecution, with particular attention to the \u201cself-laundering<\/strong><\/span>\u201d crime, for which an eight-year-sentence is foreseen.<\/p>\n

The ratification of the procedure, in case of the violations carried out until September 30, 2016<\/strong><\/span>, will focus on all activities<\/strong><\/span> and all taxable periods<\/strong><\/span> for which the evaluation or contestation terms of the tax statement violation have not expired.
The adhesion request must be submitted by July 31, 2017<\/strong><\/span> while the relevant reports and documentation must be submitted by September 30, 2017<\/strong><\/span>.
As in the first edition of the voluntary disclosure<\/em>, the provisions provide for an extension of the deadline for the ascertainment of the income and VAT taxes, as well as for the submission of disputes regarding sanctions.<\/p>\n

One of the most significant innovations of the new procedure of declaration of capital held abroad, however, consists in the spontaneous assessment (so-called reverse charge<\/em><\/strong>) of the amount due – calculated on the basis of what has been declared and the calculations made by their consultants – that taxpayers must pay by September 30, 2017<\/strong><\/span> or, alternatively, in three monthly installments of equal amount and the first must be paid by September 30, 2017<\/strong><\/span>. This implies the creation within the model of a special section entitled “Settlement statement”.<\/p>\n

In the event that voluntary cooperation involves cash or valuables of the holder, it is believed, unless proven otherwise, that they derive from income earned, with constant quotas, as a result of violations related to failed declarations, for income and related surtaxes purposes, withholding taxes, IRAP and VAT, as well as violations related to the declaration of withholding agents, committed in 2015 and in the previous four taxable years.<\/p>\n

For foreign activities and investments submitted to the new procedure, it is possible to benefit from an exemption from the declarative obligations, limited to 2016, and from the fraction of the taxable period preceding the submission of the application to voluntary cooperation, provided that:<\/p>\n