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The Australian share market - Column

By Reporter
 — 1 minute read

Italy is cracking down on tax cheats, releasing a pile of statistics on the least believable claims made mostly by the country's self-employed - especially those who sell the finer things in life.

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>If some Italian tax returns are to be believed, the owners of some car showrooms reportedly make less than the factory workers who put together the vehicles they sell. Meanwhile jewellers tend to say they earn less than school teachers, Italian newspapers report. Italy is launching an investigation into the least believable tax returns, with the minister for the economy, Tommaso Padoa-Schioppa, describing tax evasion as not only a 'disease' but an 'epidemic'. So severe, a cure would pour billions back into the country's economy. The Italian Government has set a target of $13 billion to be reclaimed from tax dodgers. In Australia, of course, the deadline for tax returns is looming, and many are no doubt looking high and low for any possible deductions. We suggest not claiming study trips to Italian accounting conferences.

The Australian share market - Column

Italy is cracking down on tax cheats, releasing a pile of statistics on the least believable claims made mostly by the country's self-employed - especially those who sell the finer things in life.

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