09-11-2016

Voluntary Disclosure: AlmavivA, 3 Bn worth of undisclosed assets and 2 thousand clients in phase one

Rome, 9 November 2016 – Undisclosed assets totaling three billion euros have emerged from the AlmavivA systems, following the application of the first Voluntary Disclosure, with over 2,000 final clients.

These figures describe the experience of Italy’s number one ICT provider, in connection with phase one of the voluntary disclosure process.

AlmavivA has also filed post-Voluntary Disclosure (which ended last summer) 2015 tax returns for over 23,000 final clients, for a total of 8 Bn euros in assets and a portfolio of over 50,000 securities, using an industrialized IT process with dedicated technological infrastructure.

Decree Law 193/2016 reopened the deadline for signing up to the voluntary disclosure program (the so-called “Voluntary Disclosure bis”), providing that all new applications should be received no later than 31 July 2017.

A software platform tried and tested during the previous program, a back-office facility specializing in processing of bank receipts and financial assets, a telematic connection with foreign banks, three key resources serving AlmavivA well in tackling the new phase introduced by the recent regulations.