Italy to sign Liechtenstein tax deal

(ANSA) - Rome, February 26 - Italy was set to sign a new tax deal with Liechtenstein Thursday, following up on a similar pact earlier in the week with Switzerland - both aimed at cracking down on tax evaders.
    The government has said the deals cut through bank secrecy and help to exchange information that will assist it in recovering billions from citizens who have tried to hid assets from tax assessment.
    Italy has had a major problem with tax evasion and the national Audit Court recently estimated about 91 billion euros in taxes were evaded each year between 2007 and 2012.
    The banking systems in Switzerland and Liechtenstein have traditionally been seen as safe havens.
    Repatriating assets has been one strategy Rome has employed to try to get some money back.
    The Italian government said last month that its capital repatriation plan will continue until September, representing "the last chance to come into compliance" with tax authorities without facing penalties, officials with the economy ministry have said.
    A tax measure covering capital repatriation allows offenders to return money previously hidden abroad without penalty.
    However, accrued taxes must be paid.