Italy Gives Up On Its Plan To Tax High Earners

Berlusconi

Wikimedia Commons

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.