On August 24, 2016 the Liechtenstein Government issued a press release announcing that Italy placedLiechtenstein on its national "White List". According to the Liechtenstein Government a Ministerial Decree in that respect was adopted on August 9, 2016 and was published on August 22, 2016.
According to the Liechtenstein Government by doing so the Italian Government considers Liechtenstein to be a cooperative state in tax matters as a result of the Agreement between Liechtenstein and the EU on the automatic exchange of information and the exchange of information upon request, which entered into force on January 1, 2016. According to the press release already in May 2016 the Italian tax administration considered Liechtenstein as a "white list" - recognized country with effect from January 1, 2016 for the purpose of financial transaction tax (FTT).
According to the Liechtenstein Government, the formal inclusion of Liechtenstein in Italy’s "White List" leads, from the date of its publication, to a significant reduction of dividend withholding tax to be withheld over dividend payments, a minimization of fund taxation and a relief of administrative burdens especially for Liechtenstein insurance companies. According to the press release Liechtenstein insurance companies are no longer obliged to appoint a representative for taxes in Italy.
Click here to be forwarded to the press release as issued by the Liechtenstein Government.
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