25.4 bn euros recovered from tax evaders in Italy

February 11th, 2011 - 12:21 pm ICT by IANS  

Rome, Feb 11 (IANS/AKI) Italy recovered 25.4 billion euros of dodged taxes in 2010, say the country’s tax and insurance agencies.

Italy’s main tax agency recouped 10.4 billion euros, while 6.4 billion euros were retrieved by Italy’s public pension and health insurance fund INPS, and 6.6 billion in tax credits and 1.9 billion by the state’s tax collection body (Equitalia).

“We’ve been able to deliver increasingly impressive results thanks to the ever-more punctual and rigorous work of all the tax authorities,” Italy’s tax agency director Attilio Befera said at a press conference in Rome Thursday.

Italy’s tax agency recovered a total 9.1 billion euros of unpaid taxes in 2009, and 7 billion euros in 2008.

Italy’s undeclared or ‘black’ economy was worth 275 billion euros in 2008, or about 18 percent of all economic output for that year, the government has said. That denied Europe’s fourth-richest country of 100 billion euros in taxes, according to Bloomberg News.

Governments have in recent years been clamping down on tax evasion which some economists estimate is worth Italy’s annual gross domestic product.

–IANS/AKI
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