Financial Regulatory Forum

Italy says considering further tax amnesty

December 15, 2009

    ROME, Dec 15 (Reuters) – Italy’s government is considering a further tax amnesty following this year’s amnesty, which is scheduled to expire on Tuesday and expected to raise up to 4.0 billion euros in windfall tax revenues.
   Deputy Economy Minister Giuseppe Vegas said on the sidelines of a banking convention that the current operation was going “very well” and that there was discussion about “reopening” the amnesty.
   Economy Minister Giulio Tremonti has said he expects between 3.7-4.0 billion euros of revenues from Italians declaring or repatriating between 60-80 billion euros of funds held abroad, paying a one-off punitory tax of 5 percent.
   (Reporting by Giuseppe Fonte; writing by Stephen Brown)
   ((stephen.brown@thomsonreuters.com; +39 06 8522 4350; stephen.brown.reuters.com@reuters.net))
 Keywords: ITALY AMNESTY/
  
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 Tuesday, 15 December 2009 09:35:08RTRS [nTST000053] {EN}ENDS

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