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A Raid On A Luxury Ski Resort Has Uncovered The True Scale Of Tax Evasion In Italy
Source: http://www.businessinsider.com/italy-tax-ski-resort-2012-1
A raid by Italian tax officials on a luxury ski resort revealed dire rates of tax evasion, reports the Telegraph.
Officials traced the license plates of several of the Lamborginis, Ferraris and other high-end vehicles that lined the streets of Cortina d’Ampezzo, a popular ski resort among wealthy Italians. In all, 133 vehicles were investigated; the owners of 42 of these were found to have reported annual salaries of less than $28,000 a year.
The investigators also reportedly found that hotels, restaurants and boutiques in the resort were wildly under-declaring how much income they were generating.
For example, Reuters reports that restaurants being studied by authorities were issuing sales receipts amounting to 300 percent more sales than the previous year. This demonstrated the fact that such establishments had not previously issued sales receipts in order to cut down their tax bills.
The news wire also added that tax evasion is becoming such a severe problem in Italy that the government is installing special dogs at borders, designed to sniff out bank notes with the aim of stopping people smuggling their savings abroad.
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See Also:
- A Japanese Tycoon Is About To Fund The Restoration Of This Incredible Ancient Roman Pyramid
- Italy’s State Run Rail Company Is Under Fire For This ‘Racist’ Advertisement
- Mario Monti Had A Very Austere New Years Eve, Thanks For Asking
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A Raid On A Luxury Ski Resort Has Uncovered The True Scale Of Tax Evasion In Italy
Source: http://www.businessinsider.com/italy-tax-ski-resort-2012-1
A raid by Italian tax officials on a luxury ski resort revealed dire rates of tax evasion, reports the Telegraph.
Officials traced the license plates of several of the Lamborginis, Ferraris and other high-end vehicles that lined the streets of Cortina d’Ampezzo, a popular ski resort among wealthy Italians. In all, 133 vehicles were investigated; the owners of 42 of these were found to have reported annual salaries of less than $28,000 a year.
The investigators also reportedly found that hotels, restaurants and boutiques in the resort were wildly under-declaring how much income they were generating.
For example, Reuters reports that restaurants being studied by authorities were issuing sales receipts amounting to 300 percent more sales than the previous year. This demonstrated the fact that such establishments had not previously issued sales receipts in order to cut down their tax bills.
The news wire also added that tax evasion is becoming such a severe problem in Italy that the government is installing special dogs at borders, designed to sniff out bank notes with the aim of stopping people smuggling their savings abroad.
Please follow Europe on Twitter and Facebook.
Join the conversation about this story »
See Also:
- A Japanese Tycoon Is About To Fund The Restoration Of This Incredible Ancient Roman Pyramid
- Italy’s State Run Rail Company Is Under Fire For This ‘Racist’ Advertisement
- Mario Monti Had A Very Austere New Years Eve, Thanks For Asking
—
drag2share – drag and drop RSS news items on your email contacts to share (click SEE DEMO)
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