The agreement with Italy against double taxation was blown up in 2005, La Serenissima: “A disaster for the economy of San Marino”
The Serenissima. The failure to sign in 2005, a disaster for the San Marino economy
The extraordinary government, the one that was formed between DC, PS and Pd, and which was wrecked after leaving behind a reform of the pension system that disappointed everyone a little, but provided new oxygen to the Pension Fund to hold on for at least 5 more years , failed on the most important result: that of the signing with Italy of the agreement against double taxation which provides for an exchange of automatic information on tax matters and financial flows. (…)
The paradox went on until Monday 15 November 005 during a meeting of the then majority which was to emphasize the satisfaction of the subsequent result, but which instead saw political Thursdays strictly controlled by that world that would have suffered negative consequences, leaving the meeting in which they toasted the result, and set off for Rome to prevent Fini from taking the plane to Rimini airport. A setback for those who had invested all their political skills in obtaining a result that would finally have brought the Republic back to being an honest country, a betrayal for Italy and above all for Minister Tremonti who had granted this last chance to San Marino to redeem himself. A real madness of the Christian Democrat notables who, it is said, even moved Cossiga so that Fini would not leave and which generated a disaster for the San Marino economy with very serious consequences. (…)
The attack on Cassa di Risparmio and other banks that also had operations in Italy, on industrial companies that had to fight in complex battles to prove that they were not foreign-dressed, up to the tax shields that dried up 2/3 of the deposits, were one of the consequences of that failure to sign. (…)
Article taken from La Serenissima