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Monday, 20 February 2012 11:28

Italians & Tax

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  • On 30 December 30, 2011 80 tax officials launched a raid at Cortina D'Ampezzo.
  • They traced the owners of 133 luxury cars: 31.5% had declared incomes of less than 22k EUR + 12% between 22k and 50k
  • Another 118 were owned by companies: 16% had declared losses, 31% had declared income of under 31k
  • Spot checks carried out on hotels etc: one boutique (revenue 1.6m EUR), could not produce a single receipt
  • Black Economy estimated at 17.5% of GDP
  • National Debt of 120% of GDP
  • Primary fiscal surplus of 1.7%, aims to increase to 5% from 2013

Interesting statistics, one would assume correcting tax evasion would massively help Italy's National Debt problem.

These statistics are sourced from Hunter Hall

Read 1620 times Last modified on Wednesday, 21 March 2012 10:49
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