Lunedì, 24 Settembre 2018

Italy's 'income-metre' becomes operative


Rome, August 19 - Italy's latest weapon against tax
evasion, the so-called "redditometro" or "income-metre", became
operational on Monday.
The database cross-referencing software compares household
spending to income declarations, mining information going back
to 2009.
Consumption deemed inconsistent with declared incomes will
trigger checks by tax authorities, and taxpayers will be
required to justify their spending capacity.
The Italian tax revenue agency is allowing a "tolerance"
level for household spending of up to 20% over calculated
spending capacity before triggering an audit.
The new measure was dismissed as ineffective by a Venetian
small business association.
The new instrument this year could add 815 million euros to
public coffers, or 0.7% of total funds lost to tax dodging -
estimated at 120 billion euros per year - according to the CGIA
of Mestre, a small business association based in a mainland zone
of Venice.
"The tax authorities will recover only small change," said
CGIA Secretary Giuseppe Bortolussi, who added, "honest taxpayers
have nothing to fear".

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