Internet Tax Evasion in Italy

in Business Risk

Over 51 percent of taxable economic activity in Italy is undeclared, according to the Association of Italian Taxpayers.

Italy was ranked first in tax evasion in the European Union, followed by Romania with 42 percent evading taxes and Bulgaria with 38 percent.

Internet shopping companies in Italy consist of a large portion of the tax evasion. Out of the over 2 million internet firms registered in Italy, only 800,000 firms pay taxes.

The losses in Italy to Internet tax evasion is estimated to be $4.2 Billion (3 Billion Euros) a year.

Source: “Bulgaria Ranks 3rd in EU in Tax Evasion – Italian Poll,” Sophia News Agency, August 1, 2011.

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