Brussels, 06/11/2001 (Agence Europe) - European Commission representatives and delegates from the Italian Treasury met in Brussels on Tuesday morning for a "an exchange of technical information" about the Italian law of 26 September on the repatriation of capital, confirmed Italian Treasury sources. The decree law that is currently being discussed by the Chamber of Deputies in Rome stipulates that capital held abroad by Italian residents can either be repatriated to Italy, or taxed at 2.5% or be except from tax if it is invested in Italian Treasury bonds through Italian financial institutions. The aim of the law is to clear up the situation regarding capital estimated to total around EUR 500 million according to the Italian authorities. In an "informal" letter dated 30 October, the Commission asked the Italian authorities for information, feeling that the clause concerning investment in Italian bonds might be discriminatory and therefore contrary to EU rules on the freedom to supply services and the free circulation of capital in the single market, signalled a spokesperson for Frits Bolkestein. The spokesperson, Johathan Todd, said that it was not a question of taking a formal procedure at this stage, simply a request for information. Italian Treasury representatives commented that they had given technical explanations at the meeting about the planned scheme, insisting that the scheme was non-discriminatory because investment in Italian Treasury bonds was "optional". The Italian authorities now have a month to respond to the Commission's request for information.