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Massive Increase in Corruption in Italy is Killing Businesses

According to a 19 August, 2014, press release made by Italian taxpayers association Contribuenti, in the first quarter of 2014, corruption levels n Italy rose a staggering 71% compared to 2013. Contribuenti also stated that corruption in Italy, a 76 billion Euro a year activity, is killing off Italy’s businesses.

Vittorio Carlomagno, the president of Contribuenti Italiani, stated that tax evasion in Italy cannot be combatted until corruption had been dealt with. Carlomagno added that corruption damages Italy’s economy directly as it creates costs which are not sustainable for businesses, and he noted that corruption deters foreign investment in Italy.

Contribuenti beleives that a direct effect the unsustainable cost of corruption is the closure of ever more businesses in Italy soon after their tax affairs have come under scrutiny by Italy’s tax authorities.

According to the Contribuenti press release, in the first 6 months of 2014, nearly 60% of companies in Italy subject to tax authority inspections went out of business. In 2008, 93.2% of businesses subject to fiscal checks continued to operate.

Tax Payments on the Drip

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Businesses in Italy are increasingly seeking to settle tax bills in instalments. In 2014, Contribuenti noted that the number of businesses in Italy requesting the use of instalments to settle taxes has risen by 122%. Two out of every 3 Italian businesses are unable to settle tax debts within official deadlines.

Confidence Down

The confidence of Italy’s taxpayers in the Italy’s revenue service has fallen and nearly 75% want reforms.

Despite the fall in confidence in Italy’s revenue service, there has been a slight increase in taxpayer confidence, from 86.4% in 2013 to 89.3% in 2014 with regard to the activities of courts in Italy that oversee tax matters.

Italian Taxpayers association Contribuenti Italiani will shortly publish its 2014 Rapporto del Contribuente – Taxpayers Report.

Contribuenti.it is the website of this non-profit organisation which monitors tax  assists taxpayers in Italy.

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