Italy, Switzerland agree to exchange more tax information to fight evasion

Italian and Swiss tax authorities have signed an accord to improve the exchange of information to fight tax evasion, the Italian economy ministry said on Tuesday.

The agreement took effect at the start of this month and aims to further enhance transparency following a previous accord which was introduced last summer, the ministry said in a statement.

It said the latest agreement will help Italy obtain revenues from a tax amnesty aimed at raising 1.6 billion euros ($1.70 billion) this year, following 4 billion euros cashed in through the measure in 2016.