Individuals and entities that have accounts at the Vatican bank and are subject to taxation in Italy will have until mid-April to report to Italian authorities the income earned by their Vatican accounts. As part of ongoing efforts by the Vatican to increase financial transparency and accountability, an agreement between… – Continue reading
Pope Francis is sweeping off clean the Vatican bank, which for many years has been cloaked with controversy for allegedly providing a safe haven to Italian individuals who laundered money and evaded taxes. On Wednesday, the Holy See’s signed tax treaty with the government of Italy — which obliges parties… – Continue reading
Recent deals signed with Switzerland, Monaco and Liechtenstein Vatican City, March 5 – The Vatican is in talks with the Italian authorities for a deal about bank secrecy and other tax issues to help track down Italian tax evaders, Holy See sources told ANSA on Thursday. Italy recently reached deals… – Continue reading
Forbes is reporting on the Vatican Bank’s decision under pressure to comply with the FATCA requirements for reporting on American citizen accounts. In his annual Christmas messages to more than one billion Catholics, the Pope may have left out something: offshore account compliance. Maybe, but the U.S. Treasury is more… – Continue reading
