Italy taxing safety deposit box savings! Italy’s government is making a cash and grab attempt at valuables locked away in safety deposit boxes with banks. The remarks were told by Deputy Prime Minister Matteo Salvini.
Salvini was quoted from a late-night TV program – he mentioned that he was told that safety deposit boxes in Italy held assets worth hundreds of billions of Euro.
“Money that is substantially hidden,” he said, referring to the deposit boxes and the income and assets that were hidden in them to avoid taxes.
Those who voluntarily declare their deposit-box holdings would be taxed at a low rate of about 15%, he said.
What do you think? Does this news make your blood boil? What if the funds in the safety deposit boxes were bought and paid for with after-tax funds? Is this double-dipping by the Italian government, or is this a legal and sound way to get more revenue for the struggling country? We’re seeing more clampdowns, even in Crypto!
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