Italy's Fin Min Sees EUR3.7 Billion-EUR4 Billion Revenue From Tax
Amnesty
ROME (MF-Dow Jones)--Italy's public finances will be boosted by EUR3.7 billion
to EUR4 billion in revenue from a tax amnesty that expires later this year,
Economy Minister Giulio Tremonti said Thursday.
"If this tax amnesty works the way the other one did, we will see EUR3.7
billion to EUR4 billion," in revenue for the state," he told a Chamber of
Deputies Finance Commission.
Tremonti made the comments in a speech about Italy's 2010 budget, which is
currently under discussion in parliament.
The revenue will be used for public services, he said.
In October, Italy announced a tax amnesty to encourage citizens to return
funds parked in offshore banks to the country to be declared and taxed.
Those who return the money during the amnesty will be immune from prosecution
related to tax matters, as well as to fines for tax evasion. They will be
charged a 5% fee and won't have to declare how they earned the money.
-By Guglielmo Valia, MF Dow Jones and Jennifer Clark, Dow Jones Newswires; 39
02 58 21 99 04; djitaly@dowjones.com
(END) Dow Jones Newswires
11-26-090543ET
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