Wealth tax for Italy?

Nearly half of Italian luxury boats are owned by people earning less than €20,000 per year

Mario Monti, the newly installed Italian leader, is trying to crack down on the countries notoriously high levels of tax evasion and may even introduce a ‘wealth tax’.

But deciding who is well off could be difficult. Figures obtained by the press show that 42.4% of the 42,000 luxury boats in Italy tell the taxman that they earn under a more humble €20,000 a year.

There are 200,000 Italians who own luxury cars, but they’re telling the taxman that they have an ann...

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