The Italians may soon say goodbye to sector studies, but they will have to deal with the "Savings meter". This is the name of the new, very powerful anti-evasion weapon in the hands of the Revenue Agency, which in fact will be able to look into anyone's current accounts to look for signs of irregularities.
WHAT IS THE SAVING METER?
The gestation was long. Established even with the saving-Italy decree of the Monti government (2012), the Risparmiometer then had to go through a series of intermediate stages: the adhesion of the banks, the creation of the software and, lastly, the go-ahead from the Privacy Guarantor , arrived at the end of April. At this point, all that is missing is the implementing circular signed by the director of the Revenue Agency, which should arrive in the next few weeks (perhaps as early as next week). After that, a trial period will start, to file the last details and prevent the tax authorities from bothering taxpayers who don't deserve it.
HOW DOES IT WORK?
But how does the Savings Meter work? In fact, the new tool allows the tax administration to compare the annual balances of current accounts, so as to bring out any inconsistencies between the money saved or deposited and the income declared to the tax authorities. In reality, this fiscal Big Brother will be able to access a lot of information: not only current accounts, but also savings accounts, savings bonds, credit cards, financial products issued by insurance companies or by companies that deal with the sale of precious metals. And all this will be cross-referenced with data arriving from banks, post offices, INPS and financial administrations.
WHEN WILL THE CHECKS START?
Of course, the revenue eye can never really check all taxpayers. Are too many. The operation will therefore be carried out on a sample basis, but not randomly: the assessment will start automatically on the basis of very precise criteria. In general, those who transfer flows of money to their current account that are not consistent with their standard of living will be subjected to checks. Suspicions, however, are not certainties: taxpayers will naturally have the opportunity to demonstrate the legitimacy of their assets in the adversarial phase. For those who are not convincing, the formal dispute will be triggered and eventually, eventually, the sanction.
