First round in tax and financial negotiations between Switzerland and Italy

Bern, 24.05.2012 - Today in Rome in the Ministry of Economy and Finance, the steering group met for the first time to resolve pending financial and tax issues between Switzerland and Italy.

The first meeting of the steering group, led on the Swiss side by State Secretary Michael Ambühl, Head of the State Secretariat for International Financial Matters (SIF) in the Federal Department of Finance, and on the Italian side by Carlo Baldocci, Diplomatic Adviser to the Italian Ministry of Economy and Finance, took place in a positive and constructive atmosphere and the participants discussed in detail the topics announced in the press release of 9 May 2012.

The discussions included the model for an agreement on the regularisation of assets held in Switzerland by non-resident taxpayers and the introduction of a withholding tax on future investment income. Access to financial markets, existing black lists, the revision of the double taxation agreement (also with reference to the exchange of information) and the agreement regarding the taxation of cross-border commuters were also discussed.

After the discussions finished, State Secretary Michael Ambühl met the Deputy Minister of the Economy and Finance, Vittorio Grilli, for talks.

The steering group, which coordinates the talks on the various issues, will meet again before the end of June, but this time in Bern.

President Eveline Widmer-Schlumpf and the President of the Council of Ministers of the Republic of Italy, Mario Monti, will meet in Rome on 12 June.

Address for enquiries

Mario Tuor, SIF Communications, tel. +41 31 322 46 16,


Federal Department of Finance

Federal Department of Foreign Affairs