Italy Gives Up On Its Plan To Tax High Earners

Berlusconi

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Italy has given up on its plan to tax its highest earners, reports the BBC.There had been plans for a “solidarity tax” on those who earn over 90,000 euros ($130,000) a year. The plan was dropped after a meeting between senior ministers and Silvio Berlusconi yesterday.

The news comes after members of the super rich in France called for a higher tax for those with high incomes, itself a response to Warren Buffet’s calls for similar tax in the US.

Italy will instead focus on tax evasion, a not inconsiderable task because of the country’s inbuilt corruption.

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