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Italy's culture of tax evasion and the cost to the economy
11/25/2011
One estimate of the loss to the Italian Treasury from tax evasion- through underreporting of income from plumbers to real estate agents and large property owners and other forms of tax evasion- is $340 billion. With the deepening economic crisis the sense of what this is costing the country is beginning to sink in. About 73% of Italians now support the fight against tax evasion being led by the new government of Mario Monti, the former European commissioner. The loss is not only to the Treasury and ability to balance the budget without deficits, this also burdens companies and reduces capital needed for investments in plant, new equipment, and R&D, which create jobs.
Grouped Articles
Amid crisis, Italy confronts a culture of tax evasion - The Washington Post
Washington Post 11.25.2011
Italy Plan Opens Pivotal Week for Euro
Wall Street Journal 12.05.2011
BusinessWeek 12.08.2011
Italy Tries to Raise the Social Stigma on Tax Evasion
New York Times 12.24.2011
Italy’s uphill financial fight - The Washington Post
Washington Post 12.27.2011
Deepening Crisis Over Euro Pits Leader Against Leader
Wall Street Journal 12.30.2011
Austerity in Italy: Terrorising the taxman
Economist 01.07.2012
Italy Targets Luxury Car Owners
BusinessWeek 02.09.2012
Mario Monti and Italy's Generational Crisis | Foreign Affairs
Foreign Affairs 02.14.2012
Tax Cheats Become Italyâs Public Enemy
New York Times 03.09.2012
Wall Street Journal 03.27.2012
Why Monti, despite Merkel, could prove the euro’s best hope - The Washington Post
Washington Post 06.24.2012
Wall Street Journal 06.26.2012
Wall Street Journal 07.09.2012
How Greek tax evasion sunk the global economy
Washington Post 07.10.2012
Italy's Leader Calls Economic Efforts "a Very Tough War"
New York Times 07.11.2012
Wall Street Journal 07.13.2012
In Report on Statesâ Finances, a Grim Long-Term Forecast
New York Times 07.17.2012
ECB's Draghi Must Avoid Moving Target for Spanish Aid
Wall Street Journal 07.30.2012
Italian's Job: Premier Talks Tough in Bid to Save Euro
Wall Street Journal 08.07.2012
Monti Says He Regrets Berlusconi Remark
Wall Street Journal 08.07.2012
Greece and Italy Are Listed Among Corrupt in Europe
New York Times 12.05.2012
Italian Election Isn't a Good Reason for Investors to Panic
Wall Street Journal 12.10.2012
In Italy, Illusion Is the Only Reality
New York Times 02.23.2013
Luxembourg to Reveal Bank Data
Wall Street Journal 04.11.2013
Hollande Creates a French Prosecutor for Fraud and Vows to End Tax Havens
New York Times 04.10.2013
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