Italy proposes tax on savings hidden in safety deposit boxes

Plain false, it&#x27;s simply a fiscal reconciliation. If you evaded taxes, you may admit it and pay a lower price.<p>It doesn&#x27;t apply to legitimate savings.

Am I correct in saying that another way to view this is a 15% fee to launder all of your dirty money in a risk free, government endorsed way?

Wow... the entire article is 4 sentences (each with their own paragraph). Doesn&#x27;t have a thing about how they plan on enforcing the tax.<p>15% &gt; 0%.

&gt; Those who voluntarily declared their deposit-box holdings would be taxed at a low rate of about 15 percent, he added.<p>In what world is a <i>wealth</i> tax of 15% a &quot;low rate&quot;?!

I believe this means that the 49M euros Lega has to re-pay back to Italian Fiscal agency (<a href="https:&#x2F;&#x2F;www.theguardian.com&#x2F;world&#x2F;2018&#x2F;sep&#x2F;06&#x2F;italys-league-may-change-name-to-avoid-49m-bill" rel="nofollow">https:&#x2F;&#x2F;www.theguardian.com&#x2F;world&#x2F;2018&#x2F;sep&#x2F;06&#x2F;italys-league-...</a>) are not stored in a safety deposit box.

How will they enforce this? Manually opening ever safety deposit box? I know at my bank (probably all of them?), you need my key and the bank key to open a box.<p>Are they going to request every single person go to their box, open it and show it to the tax man?

I thought only income could be taxed? If you have valuables just sitting there, how can they be taxed? Obviously if you sell them there might be capital gains, but not before?

... ... can you hear it? That is the sound of billions of EUR leaving Italy. When will they learn?