Italy loses 4.5 bn euros in tax frauds

May 3rd, 2012 - 5:02 pm ICT by IANS  

Rome, May 3 (IANS/AKI) During the first four months of this year, Italian tax police busted 2,226 people who allegedly evaded 4 billion euros in taxes and 500 million euros in sales tax by filing false income statements and forgery.

Italy’s tax police Thursday said the cases involved suspects who provided fraudulent tax return, no income statements at all or altering or destroying income documentation.

Italy’s emergency government has declared war on tax evasion as part of its effort to put the country’s financial house in order and lower its 1.9 trillion-euro debt.

Italy in January said it identified 7,500 Italians who last year hid around 50 billion euros in taxable income. The country’s largest tax collection agency said increased surveillance helped it recover almost 13 billion euros in dodged taxes last year, a 16 percent jump for 2010.

Police Thursday said they impounded real estate, cash, jewellery and automobiles belonging to the suspects valued at 160 million euros.

–IANS/AKI
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