Don't miss

Replay


LATEST SHOWS

ENCORE!

Actress Helen Mirren on TV honours and tackling sexism

Read more

FOCUS

Teething problems for French President Macron's party

Read more

THE INTERVIEW

Libya's Haftar vows to deal with terrorists 'through weapons'

Read more

INSIDE THE AMERICAS

USA: Fierce battle over Kentucky's only abortion clinic

Read more

IN THE PAPERS

'Socks and selfies deep': Canadians slam Rolling Stone's Trudeau tribute

Read more

IN THE PAPERS

Panda-monium! French zoo awaiting rare panda birth

Read more

BUSINESS DAILY

Can Facebook keep growing its earnings?

Read more

THE INTERVIEW

Qatar 'financing and supporting terrorism', Egypt FM says

Read more

MEDIAWATCH

French Riviera's raging fires

Read more

Business

Eighty billion euros 'come home' after tax amnesty

Text by News Wires

Latest update : 2009-12-26

Some 80 billion euros held by Italian nationals outside of the country have been "repatriated" under a tax amnesty that has been in place since September, finance minister Giulio Tremonti (pictured) said.

AFP - More than 80 billion euros (115 billion dollars) in assets held by Italians outside Italy have been either repatriated or brought into conformity with regulations under a fiscal amnesty law, the economy minister said Wednesday.
  
"The figures are not yet definitive but according to prelimiary estimates we have gone beyond 80 billion euros," Giulio Tremonti told a press conference.
  
"It's unprecedented."
  
The tax amnesty has been in effect since September 15.
  
"The accumulation of funds repatriated has exceeded our capacity to absorb them, which is why we were obliged to extend the amnesty," Tremonti said.
  
The government in mid-December said the programme would be extended to the end of April.
  
The fee charged until mid-December, 5.0 percent of the funds involved, was then raised to 6.0 percent with effect until the end of February, when it will climb to 7.0 percent until the end of the program in late April.
  
The amnesty has already earned between 4.0 and 5.0 billion euros for the state.
  
"The era of tax havens is over," Tremonti asserted.
 

Date created : 2009-12-24

COMMENT(S)