Italy now sees Liechtenstein as a cooperative country in tax matters. The news brings advantages for Liechtensteins insurance companies.
The Italian government has rated Liechtenstein as a cooperative country in tax matters. A corresponding ministerial order was approved on 9th August and published on 22nd August. Liechtenstein is now on Italys whitelist of cooperative countries.
The move is Romes reaction to Liechtensteins agreement with the EU on the automatic exchange of information and the exchange of information on request, which came into force on 1st January 2016.
The government of Liechtenstein reported that the countrys inclusion on the whitelist had significant advantages for companies in Liechtenstein, such as the reduction of tax at source on dividend payments, the minimisation of fund taxation and lower administrative costs. Particular benefactors will be Liechtensteins insurance companies, which must no longer name tax representatives in Italy.
