Italy tax amnesty yields record €80bn

Era of fiscal havens over, says Tremonti

Italy’s amnesty for tax evaders holding funds outside the country has been successful in attracting more than €80bn so far, Giulio Tremonti, the finance minister, declared on Wednesday in setting out a record haul for the centre-right government.

“I want my money back,” Mr Tremonti said, breaking into English at his year-end news conference, recalling what he had recently told Hans-Rudolph Merz, his Swiss counterpart, to the anger of Swiss banks, which hold the majority of Italian funds and have accused Rome of intimidating their clients.

Full Story FT.com / Europe – Italy tax amnesty yields record €80bn.

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