Italy studies tax amnesty on undeclared assets abroad, paper says

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MILAN, Nov 17 (Reuters) – Rome is considering an amnesty for taxpayers with undeclared assets stored outside Italy similar to a temporary measure a government introduced in 2014, the Corriere della Sera daily reported on Thursday, citing people involved in the matter.

According to the paper, tax dodgers who voluntarily declare funds kept abroad would be safe from criminal charges or fines but would have to pay any tax owed to the authorities from at least the last five years.

The proposal is expected to be included in the budget law, which is under preparation, the paper said, adding its impact on potential tax collections was difficult to estimate.

The 2014 measure introduced under then Prime Minister Matteo Renzi was temporary and the new right-wing government of Giorgia Meloni is considering whether to reintroduce it and in what form, according to the paper.

Italy has long suffered from rampant tax evasion and successive governments have pledged crackdowns to try to reduce the strain on honest Italians and on the public finances.

A spokeswoman for the Treasury was not immediately available to comment on the report.

(Reporting by Agnieszka Flak, additional reporting by Giselda Vagnoni; editing by Barbara Lewis)

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