US, Holy See sign agreement on combating tax evasion

June 10, 2015

The United States and the Holy See have signed an agreement to combat tax evasion.

“This agreement – which is the first formal inter-governmental agreement between the Holy See and the United States – underscores the commitment of both parties to promote and ensure ethical behavior in the financial and economic fields,” representatives of the Holy See and the US said in a joint statement. “In particular, this agreement will prevent tax evasion and facilitate the compliance of fiscal duties by those US citizens who conduct financial activities in Vatican City State.”

“The signing of this agreement is unquestionably an historic event,” said Archbishop Paul Richard Gallagher, the Vatican’s Secretary for Relations with States, as it raises “to an even higher level the broad cooperation and friendship that already exist between the Apostolic See and the government of the United States.”

“Signing the present agreement is thus a further step in the Holy See’s long-term strategy to ensure and promote legality, transparency and ethical behavior in the economic and financial fields,” he added.

“We welcome the Holy See’s commitment to intensifying our cooperation to promote global financial transparency through improving international tax compliance,” said Kenneth Hackett, the US ambassador to the Holy See. “It also aligns with our mutual commitment to work together to detect, deter, and discourage offshore tax abuses through increased transparency and enhanced reporting.”

 

---

For all current news, visit our News home page.

---

 
Further information:

• Accordo fra la Santa Sede (Holy See Press Office)