A “poor” Italian who owns a Ferrari, a boat, and five...

A “poor” Italian who owns a Ferrari, a boat, and five...
A “poor” Italian who owns a Ferrari, a boat, and five...

The Italian Financial Police confiscated assets worth one million euros from a man who claimed in the tax department that he was poor, but it turned out that he owned a “Ferrari” and a 12-meter-long boat, according to the Italian agency AGI today.
The competent authorities put their hands on five apartments and six with life insurance policies, bank accounts and various valuable items, including luxurious watches and paintings bearing the signatures of prominent painters such as Crico, all owned by the 72-year-old businessman who lives near Modena in Emilia Romagna (northern Italy).
The Financial Police investigation revealed the large gap between the income that the man had been declaring to the tax authorities over the past forty years, and the valuable assets that he had accumulated, and some of them were registered in the name of his wife or son in order to mislead, noting that the revenues that he was declaring were indicating that he was on the poverty line.
The difference between declared income and actual wealth amounts to seven million euros, while the man owes the tax authorities more than 12 million euros.
Italy, the third largest economy in the euro zone, has faced a serious tax evasion problem for years. According to the estimates of the Ministry of Finance, this causes the state to lose 109 billion euros every year.

Follow our latest local and sports news, and the latest political and economic developments via Google news



Pin Interest
Whats App

These were the details of the news A “poor” Italian who owns a Ferrari, a boat, and five... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Saudi finance minister heads Kingdom’s delegation to G20 ministerial meeting in Brazil
NEXT Saudi banks witness 11% surge in loans to $726bn, fueled by corporate activities