The Italian Revenue Agency has issued instructions for Italians working outside of Italy who wish to regularize the non-declaration of any funds they hold abroad, according to Tax-News.com.

The amount of such funds held abroad should be included in an individual’s annual tax returns, the report said.

However, expatriate workers have now been given an extended period over which to rectify any incompleteness in the declarations they should have made, even if that entailed the lack of any declaration at all, the publication said.

Italian legal and tax authorities have been waging a high-profile campaign to clamp down on alleged tax evaders. In October last year, Italian police visited 76 branches of Swiss banks and their agents. Among the branches inspected were those of UBS and Credit Suisse. Italy’s recent amnesty for tax evaders holding funds outside the country has attracted more than €80 billion ($110 billion), according to a report in late December last year.

The news report on the new instructions says that Italian residents employed by the European Union or other international institutions, or in public service abroad (such as in embassies or consulates), are, in any case, exempted from any need to declare funds in foreign current or deposit accounts, as long as those accounts have been reserved for the crediting of earnings derived directly from overseas employment.

An obligation to declare arises only if a resident has financial or other assets abroad, even if they were purchased from those overseas earnings.