Italy retrieves €30bn from tax evaders in 2015.

Pier Carlo Padoan has declared that the Guardia di Finanza discovered €30bn of undeclared assets in 2015.

The breakdown was as follows:

1. €21bn was discovered from false residency declarations from individuals and companies.

2.  €7bn was from sham foreign permanent establishments

3. And €2bn from erroneous transfer pricing. (The price of the transfer of goods within a holding company from one division to another).

Padoan's disclosure was mentioned at an event to mark the 242nd birthday of the Guardia di Finanza. He also mentioned that the Italian authorities are thinking about opening up the Voluntary Disclosure programme again to allow any Italian resident individual to declare previously undeclared offshore financial assets and incomes before the full opening of the OECD's Common Reporting Standard which will come into force in 2017, and be retroactive to January 2016.

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