Italian tax authorities are busy working through a list of Swiss banks they suspect of having kept accounts for Italian citizens who avoided paying taxes in their home country. Next on their radar is Credit Suisse.
The Italian tax authorities – the Guardia di Finanza – have asked their Swiss colleagues for administrative assistance in respect to Credit Suisse, according to a notification from the Swiss Federal Tax Administration (FTA).
UBS and BSI Previous Targets
The Italians are looking for information on accounts of Italian citizens at Credit Suisse, which they suspect of having failed to fulfill their tax obligations in their home country. The information required dates back to the period between February 2015 through December 2017.
Before chasing the accounts at Credit Suisse, the Guardia di Finanza has already pursued Switzerland’s No. 1 bank, UBS, as well as BSI, which has been taken over by EFG International.
Settlement Agreed in 2016
Italy presumably will seek further information from other banks at a later stage.
Credit Suisse and UBS have settled their tax disputes with Italy years ago. Credit Suisse in 2016 agreed to pay 109.5 million euros ($120 million) according to an agreement with Italy.
