The underground economy is worth 190 billion in Italy, equal to 12% of GDP. Economy Minister Pier Carlo Padoan said today, specifying that between 2012 and 2014 the fiscal shortfall reached 109,7 billion a year and that the VAT gap alone is equal to 40,5% of the shortfall tax.
Tax evasion "goes against equity and social inclusion - continued the minister at the inauguration of the Guardia di Finanza's study year - Despite the many interventions, much remains to be done in the fight against tax evasion, which remains a priority of the government”.
Prime Minister Renzi also spoke about the tax authorities on the same occasion: “The reduction of the tax burden – he said – is the cornerstone of the government's action and it is not due to an ideological smoke. The key point is that Italy has an unsustainable tax burden and the reduction is the first way to affirm social justice. This organic design combined with the record in the fight against tax evasion makes the government particularly sensitive to tax issues”.
