Vatican near accord with Italy on sharing financial data to trace tax evaders?
March 31, 2015
The Vatican is nearing an agreement with Italy on sharing financial information to cut down on money-laundering and tax evasion, Reuters reports.
The Vatican has been negotiating an agreement that would provide for sharing financial information that would help detect illegal activities. An unnamed Vatican source told Reuters that a formal pact could be announced as early as this week.
In the past, Italian banking authorities have complained about money-laundering and other questionable financial activity at the Vatican bank, the Institute for Religious Works. The current talks involve efforts to track financial transfers made by third parties, using Vatican institutions.
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Further information:
- Vatican near deal on financial information sharing -source (Reuters)
- Holy See, Italy in talks on tax evasion (CWN, 3/6)
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