The Italian tax authorities on the hunt for false residents in Monaco, Liechtenstein, Switzerland, Dubai and Luxembourg. The Republic of San Marino is excluded from the squeeze
Montecarlo, and not San Marino, ends up in the sights of the Italian tax authorities.
“The Italian tax authorities have started looking for fake Montecarlo residents and are sifting through the positions of all those registered in the Registry of Italians residing abroad”, explains the journalist Angelo Mincuzzi in the Italian newspaper ‘Il Sole 24 Ore’.
Montecarlo, explains the journalist Pietro Bellantoni in the Italian newspaper “Il Giornale”, is “one of the favorite destinations of Italian VIPs who do not pay any income tax here”. But the good times being over for, financiers and seem to be over for, financiers and that “now their Italian entrepreneurs who live and are really in their role in Monaco and that their change of residence was not a move by tax wizards” .
The squeeze initiated by the Revenue Agency, facilitated by the recent agreement between the tax authorities, the Lombardy Regional Command of the Guardia di Finanza and the Municipality of Milan, will not only concern the City-State. “Monaco – writes Mincuzzi – the first step is only countries, because the men of the Revenue Agency are also working on the names of residents in others, such as Luxembourg (30,933 Italians according to the latest Aire census relating to 2021), Dubai (10,795 including the other Emirates), Switzerland (639.508) and Liechtenstein (1.824 registered Italians) “. Therefore, the Republic of San Marino is excluded from the list of the Italian tax authorities.
“The number of former residents in Milan who are registered with Aire – remarks the journalist of ‘Il Sole 24 Ore’ – has risen from 80,140 in 2016 to 93,230 in 2020, with an increase of 12.6%. Of these, 721 were resident in Monte Carlo, another 1,022 in Luxembourg, 12,314 in Switzerland, 901 in the United Arab Emirates and 5 in Liechtenstein. The protocol provides for enhanced cooperation to combat tax evasion with targeted checks on particular types of ‘subjects, activities and operations’, to allow the Municipality of Milan to effectively report tax evasion “.
“Similar memoranda of understanding – remembers Mincuzzi – were signed with almost half of the 1,506 municipalities of Lombardy and represent an important step to make the fight against tax evasion more effective. A ‘Lombardy model’ that could soon be replicated in other Regions and with other large Italian Municipalities, especially due to the positive effects for the municipal coffers in search of resources ”.