Undeclared Italian earnings equaled 56 bln euros in 2012

IMG class=hide alt=”Undeclared Italian earnings equaled 56 bln euros in 2012″ src=”http://www.mineralfossil.com/wp-content/uploads/2014/03/wpid-42f059e54f43d9936117f16592d3576d.jpg” (ANSA) – Rome, March 18 – Italy’s public coffers in 2012 missed out on 56 billion euros’ worth of undeclared earnings and 4.7 billion euros’ worth of unpaid VAT tax, the commander of the finance police told a Senate finance committee on Tuesday. P”Italy has high taxes, but also a high rate of tax evasion, which is a major obstacle to a competitive market”, General Saverio Capolupo told MPs./PP”The phenomenon has reached such proportions that countermeasures can no longer be put off”./PPOf the total undeclared revenue, more than 17 billion euros were earned in international operations and 22.7 billion euros were domestic earnings, Capolupo explained./PPThe general urged lawmakers to extend the statute of limitations on tax evasion, which currently expires after eight years, and to make false accounting a crime. “Accounting fraud is not a purely civil issue, because it has tax implications”, Capolupo said./P
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