Review Of November 21, 2001 Decree Establishing A Preferential Tax Regime States Or Territories In Finding Referred To Articolo127-Bis, Paragraph 4, Of The Only Text Of The Taxes On The Incomes (Cd. " Black List ").

Original Language Title: Modifica del decreto 21 novembre 2001, recante individuazione degliStati o territori a regime fiscale privilegiato di cui all'articolo127-bis, comma 4, del testo unico delle imposte sui redditi (cd."black list").

Read the untranslated law here: http://www.gazzettaufficiale.it/atto/serie_generale/caricaArticoloDefault/originario?atto.dataPubblicazioneGazzetta=2015-05-11&atto.codiceRedazionale=15A03465&elenco30giorni=false&atto.tipoProvvedimento=DECRETO

The MINISTER of economy and finance having regard to article 1, paragraph 83) (n) of the Act December 24, 2007, # 244, which introduces income tax in the consolidated law, referred to in the Decree of the President of the Republic December 22, 1986, n. 917, article 168-bis with which establishes that, by Decree of the Minister of economy and finance, are located the States and territories that allow an adequate exchange of information and the level of taxation is not appreciably lower than that applied in Italy, for the purposes, among others, the provisions of article 167 of the consolidated income tax; Having regard to article 1, paragraph 88, of that law, which provides that, until the tax year in progress at the date of publication in the official journal of the Decree of the Minister of economy and finance under article 168-bis of the consolidated law, shall continue to apply the provisions in force at December 31, 2007; Having regard to article 167, paragraph 1, of the consolidated income tax, in the version in force on December 31, 2007, which States that if a person residing in Italy has, directly or indirectly, control of a company, firm or other entity, the incomes of the foreign entity participated shall be charged as from the end of the year or period of management, to entities established in proportion to the shares held by them; Having regard to the above article 167, paragraph 4, in the version in force on December 31, 2007, which States that consider themselves privileged tax regimes of States or territories identified, by Decree of the Minister of finance to be published in the official journal, significantly lower than the level of taxation applied in Italy, or the lack of a proper exchange of information or other equivalent criteria; Having regard to the order of the Minister of economy and Finance November 21, 2001, published in the Official Gazette No. 273 of November 23, 2001, with which they were identified the States and territories with preferential tax regime, referred to in the previous article 167, paragraph 4, of the consolidated income tax; Having regard to article 1, section 680 of the Act December 23, 2014, # 190, which, by modifying the paragraph 4 of the article 167 of the Decree of the President of the Republic December 22, 1986, n. 917, ruled that considers itself substantially lower than the level of taxation applied in Italy a level of taxation lower than the 50 percent that applied in Italy; Having regard to article 1, paragraph 680, of the same law also provided that, in any case, shall be regarded as privileged special tax arrangements, which allow a level of taxation lower than the 50 percent that applied in Italy, even ' provided by States or territories that apply a general system of taxation of not less than 50 per cent of those applied in Italy; Having regard to article 1, section 680 of the same law which stipulates that, by decision of the Director of the revenue, it is a list, not exhaustive, these special tax regimes; Considered, therefore, the need for change, pending the preparation of the Decree of the Minister of economy and finance, provided for in article 168-bis of the income tax, the list of States, approved by Ministerial Decree dated November 21, 2001 in order to bring it into line with the criteria for the identification of States to privileged taxation, as set out in article 1, paragraph 680, of December 23, 2014 reads , # 190;
Decrees: Art. 1 amendment of the lists of States and territories having a preferential tax regime 1. The list referred to in article 1, paragraph 1, of the Decree of the Minister of economy and Finance November 21, 2001, the following is deleted: Philippines; Malaysia; Singapore. 2. Article 3 of the Decree of the Minister of economy and Finance November 21, 2001 is repealed. This Decree will be published in the official journal of the Italian Republic.
Roma, March 30, 2015 the Minister: P