Italian accountants can work miracles. In fact, 518 Italians who own private jets manage to get away with declaring incomes of less than €20,000 – yes, that’s right twenty thousand Euros.
For reasons unknown, Italy’s tax people don’t seem to have a problem with the fact that someone who makes less than €20,000 can afford to buy and then run a private jet.
Just in case you were wondering, this is no early April Fool’s joke, an article appeared on the website of Italian newspaper Il Fatto Quotidiano giving the details of the number of low income private jet owners. The article, which is in Italian, is here.
If your nation’s tax people are taking large chunks of your income away, come to Italy and find yourself an Italian accountant! Maybe you were planning the purchase of a nice new Learjet but the running costs were a little on the high side. Well don’t worry, that jet can still be yours when the taxes you pay are reduced to insignificant levels. As a result, you may even be able to treat yourself to a Bugatti Veyron too!
Oh, and once you’ve found yourself a miracle-working Italian accountant, be sure to find an equally ingenious Italian lawyer – just in case. The Italians who get away with this little trick are likely to be extremely well connected and regarded as untouchables by Italy’s tax authorities.
Learjet photo by MilborneOne
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