Italian tax amnesty raises 95bn euros

[demoleft]

Source: bbc

Italy has raised 95bn euros (£86bn;$137bn) from a tax amnesty, much more than the government had expected.

According to the country's finance ministry, 98% of the illegally-held overseas money has been repatriated.

The amnesty caused a spat with Switzerland after Rome claimed the Swiss government was refusing to cooperate with the tax crackdown.

Switzerland then demanded that Italy explain why police and tax inspectors raided dozens of Swiss banks in Italy.


Read more: http://news.bbc.co.uk/2/hi/business/8433762.stm

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wait some longer, and we'll be asked to stand up and clap hands in ovation for the tax evaders.
my country is simply sick - and sometimes its sickness appears disguised by pragmatism.

simply, a slap in the face for the honest people who always paid their dues.

[dencol]

1. Sometimes it is better to take a realistic approach.

Amnesty is sometimes better than biting off more than one can chew. The article was lacking in details, but if they are finally getting a handle on the problem, while bringing in money, I don't think it is all bad. Once this is under control, taxes should be raised on the rich - those who took advantage of these havens.