Another weapon against tax evasion

From 24th June 2013 your Italian bank will be sending the Agenzia delle Entrate details of the opening balance, closing balance and movements in and out of your bank account for the year 2011 along with a list of other information. This has to be completed by 31/10/2013 for 2011 and 31/03/2014 for 2012. This new 'regime' is called 'Sid' (sistema interscambio dati).

The rules for identifying people at most risk of evasion have yet to be defined says the appropriately named Attilio Befera (head of the italian tax agency). How much would you bet that being foreign is one of them?

Full details here for the insomniacs amongst you

Admin wrote:From 24th June 2013 your Italian bank will be sending the Agenzia delle Entrate details of the opening balance, closing balance and movements in and out of your bank account for the year 2011 along with a list of other information. This has to be completed by 31/10/2013 for 2011 and 31/03/2014 for 2012. This new 'regime' is called 'Sid' (sistema interscambio dati).The rules for identifying people at most risk of evasion have yet to be defined says the appropriately named Attilio Befera (head of the italian tax agency). How much would you bet that being foreign is one of them?Full details here for the insomniacs amongst you

 Yes big brother arrived later than expected.... Some would say "well if you have nothing to hide..." Which would be great if the information is in the slightest way safe with these guys... "So Don, would you like to know who's moved the most money lately", oh and likely indicates when and when they are not present in Italy...  

As the Agenzia delle Entrate fines first and asks questions later and also the legal onus is on your to prove you are not fiddling (just how do you prove a negative?) whether you have actually been avoiding taxes is likely to be irrelevant.

And keep in mind that information is also shared amongst countries Shared income data

A lot to be said for the Italian way of keeping things under the mattress.... 

It is also called the safety mattress...

Like italian citizen I can say that in Italy the tax pressure is unbearable and sadly, this pressure, keep down the economic development. My personal opinion is that the problem is, overall, that Italy has euro.

Euro is not own currency and my country can not dicide how much currency print. BCE and UE is only able to want tax and tax on consume, family, little employer, workers.....I think it is need comeback to "lira". Bye Fabrizio

I disagree Fabrizio, as the Lira would be impossible to use as a monetary trade between European Countries where the actual wealth of Italy is founded. The problem is not with the Currency but with the balance of payments; Italy needs to produce and sell more.

Actually I agree with Fabrizio. Either the Med countries should leave the Euro to save themselves or Germany should leave to save the Euro. It's a disaster and will continue to be one while we are all tied together.