Italy's pension system recovers 5.95 bln USD from tax evasion fight

11:55, December 11, 2010      

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Italy's pension system has recovered during the year a total of 4.5 billion euros (5.95 billion U.S. dollars) of evaded taxes and 1.5 billion euros of unpaid contributions, according to a report issued by the National Institute of Social Security (INPS) on Friday.

The data is indeed impressive and shows the results of the tightened fight against tax dodging adopted by the government and all its agencies in a bid to recover useful resources with which to fuel Italy's slow economic revival.

According to Inps, this year's tax recovery registered a 10 percent increase compared to 2009. The fight against tax dodging is in fact on the rise: last year the pension system was able to recover some 66 percent of additional resources with regard to 2008.

"The data demonstrates a growing positive trend that is finally showing concrete results," said Inps director Antonio Mastrapasqua.

"Recently contributions by firms are also on the rise and this is very important because it means that cooperation between the pension and the industrial systems has turned out to be quite successful," he stressed.

Mastrapasqua noted that the extraordinary outcomes of the fight against tax evasion were also the "sign of a new economic phase Italy had entered".

Tax payers' perception is also changing. According to a recent survey almost 80 percent of Italians are against tax evasion and criticize those citizens who try to deceitfully fraud the state.

Italy has suffered from tax evasion for long. A recent study by a taxpayers' lobby highlighted that the fiscal evasion in Italy still amounts to an average of 157 billion euros per year with a considerable damage to the state.

Source:Xinhua
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