Italy: Thieving tax swoop gives yachties that sinking feeling

An army of tax inspectors is about to hit Italy's finest resorts and marinas in a campaign against tax evasion.

The team will carry out spot checks on yachts and in bars to ensure people are paying what is due.

Yacht owners will be asked to show registration documents that will be compared against the taxable income they have declared.

If, for example, someone is found to own a huge, luxury yacht on a small, declared annual income, they face further investigation.

In bars, restaurants and nightclubs the quality of the fittings and decor will be expected to square with annual returns.

According to the Agenzia delle Entrate, Italy's revenue and customs department, Italians evade more than €124 billion ($180 billion) of tax every year.

It says 25,000 inspections will be carried out across the country this northern summer, with agents focusing on Italy's 13,000-kilometre coastline. Particular attention will be paid to popular resorts - from the Amalfi coast to Sicily and up to Venice Lido. The €20 million yacht of Flavio Briatore, 60, the Formula One boss, was chased and impounded by financial police in May as part of an investigation into alleged €4.3 million tax evasion. He denies any wrongdoing and is still holidaying on the yacht.

Agency officials said their operation had uncovered one person in Ravenna on the Adriatic coast who had declared an income of €8000 a year but had chartered a yacht for €20,000.

Attilo Befera, the head of the agency , said: ''We are not after the people who evade €100, otherwise we would be tied up all day. We are after the medium- and large-size evaders.''

LNK

Italy: Thieving tax swoop gives yachties that sinking feeling

Italy: Thieving tax swoop gives yachties that sinking feeling

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