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Italy Considering A Tax On Savings Deposits.

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It was reported on BBC News, this evening, that the Italian government are considering, among other measures, the introduction of a one off tax on savings deposits. Let's hope this doesn't give our government ideas.

It goes to show that governments can do whatever they want to raise tax revenue.

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It was reported on BBC News, this evening, that the Italian government are considering, among other measures, the introduction of a one off tax on savings deposits. Let's hope this doesn't give our government ideas.

It goes to show that governments can do whatever they want to raise tax revenue.

Wish I hadn't read that just before going to bed. Often have enough trouble sleeping anyway. :(

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It was reported on BBC News, this evening, that the Italian government are considering, among other measures, the introduction of a one off tax on savings deposits. Let's hope this doesn't give our government ideas.

It goes to show that governments can do whatever they want to raise tax revenue.

Does the Italian government tax savings as we do, or are they tax-free?

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It said savings deposits so I presume its a one off tax on the capital sum on top tax on interest.

Just how badly do they want to precipitate a bank run ? :blink:

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It was reported on BBC News, this evening, that the Italian government are considering, among other measures, the introduction of a one off tax on savings deposits. Let's hope this doesn't give our government ideas.

With the rate of interest paid to savers it would cost the HMRC more in administration costs to collect it. :D

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It was reported on BBC News, this evening, that the Italian government are considering, among other measures, the introduction of a one off tax on savings deposits. Let's hope this doesn't give our government ideas.

It goes to show that governments can do whatever they want to raise tax revenue.

"Among the proposals on the table listed by Italian newspapers were an earlier than expected increase in the minimum pension age, accelerated cuts in social welfare payments, a new tax on second homes and a wealth tax on savings."

http://www.news.com.au/business/breaking-news/stocks-crash-as-italy-readies-structural-reforms/story-e6frfkur-1226112833126

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"Among the proposals on the table listed by Italian newspapers were an earlier than expected increase in the minimum pension age, accelerated cuts in social welfare payments, a new tax on second homes and a wealth tax on savings."

http://www.news.com.au/business/breaking-news/stocks-crash-as-italy-readies-structural-reforms/story-e6frfkur-1226112833126

They already had a substantial tax on second homes when I was there in the '90s.

(maybe someone wanted Italy to be more like Brown's Britain, and abolished it)

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They already had a substantial tax on second homes when I was there in the '90s.

(maybe someone wanted Italy to be more like Brown's Britain, and abolished it)

"In 2008, Mr. Berlusconi won re-election with a campaign that promised to remove property taxes on first homes — and did. Reversing that would help state coffers, but would be a significant political defeat. "

http://www.nytimes.com/2011/08/11/world/europe/11italy.html

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Feck, the gold bugs would love a tax like that.

You're not wrong. :D

I'm sure it would extend to gold holdings.

In places like Bullionvault and Goldmoney?

I'd like to see the government audit my physical stash.

"Whoops, sorry Mr. HMRC, I pawned it all cos I was short of cash."

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They mean an additional tax. Inflation is already such a tax.

Government does not believe in property rights - they believe whats yours is really theirs and will try to take it one way or another.

Only solution is real stuff in your personal possession - stock up on toilet rolls, spirits, shampoo anything that you use up that keeps, a strategy that was good in the inflationary 70's. A few sovereigns for later exchange makes sense too.

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ha ha ha... so how you gonna prove i have any gold?

That's where THE KING OF CURRENCIES comes into it's own.

It's out of the system, portable, etc.. etc.. so impossible to tax.

Bad luck, paperbugs!

You can keep banknotes in your sock draw too. But is it sensible to keep hundreds of thousands of pounds worth of anything at home?

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Just how badly do they want to precipitate a bank run ? :blink:

IIRC, the main reason why Italy was meant to be safe from default was a high domestic savings rate. Given that they apparently have to roll over a huge amount of debt in the next few years, deterring savings might not be the best plan.

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Just how badly do they want to precipitate a bank run ? :blink:

Real badly from the sounds of it :D

This fiat stuff is nasty.

Not content with robbing people via Inflation and NIRP they now want to charge people to hold this shit.

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They are attempting everything possible to avoid admitting the lies.

Not sure I trust the idea it would be one off tax. Although I'm sure the rich will be given ample time to avoid it.

However that might be a bank run that sends the banks under requiring a bailout from the taxes collected.....

It's a cunning plan.

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This has been done a couple of times already in the last 20 years.

It's normally a forceful withdrawal from your bank account for 0.0005% of your deposits.

******ing disgraceful.

We moan about the UK, but if you had experience of how the Italian government loots and squanders, you'd somehow understand why tax evasion is as high as it is.

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This has been done a couple of times already in the last 20 years.

It's normally a forceful withdrawal from your bank account for 0.0005% of your deposits.

******ing disgraceful.

We moan about the UK, but if you had experience of how the Italian government loots and squanders, you'd somehow understand why tax evasion is as high as it is.

0.0005% ?

Hardly worth the effort that would be £5 tax on a £1M deposit.

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Just how badly do they want to precipitate a bank run ? :blink:
Surely you couldnt engineer a bank run any better?

Every italian bank account would be emptied overnight.

+1 Just what I was thinking.

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  • 343 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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