White List Countries

The Italian government originally published a list in 1996  – known as the White List – concerning changes to the tax regime for interest, and other income on bonds and similar securities, public and private.  A reduced rate of tax was available to income deriving from White List countries, i.e. those countries with which Italy has put in place, by reason of an international treaty, measures providing for an adequate exchange of information regarding a particular taxpayers affairs. Income from countries or regimes not on the list was subject to a higher rate of tax.

Over the years the White List has become a reference point for a number of different tax and tax matters where a favourable tax treatment applies, or where a less favourable treatment applies to countries not on the list.

Italy has implemented these rules in pursuant principally to her non-discrimination obligations under International double tax treaties.  Typically an international double tax treaty contains a clause stating that residents or citizens of the other contracting state must not receive a less favourable tax treatment compared to residents of Italy.  For more details and if you would like to read the text of some of the treaties click here.

The states and territories with which it is possible to implement the exchange of information are shown in the attached pdf document.


Legislative Decree no. 239 of 1 April 1996

Decree of the Minister of Finance of 4 September 1996

Decree of the Minister of Finance of  9 August 2016

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