Not a Lexis+ subscriber? Try it out for free.
LexisNexis® CLE On-Demand features premium content from partners like American Law Institute Continuing Legal Education and Pozner & Dodd. Choose from a broad listing of topics suited for law firms, corporate legal departments, and government entities. Individual courses and subscriptions available.
Apparently, the Italians have found a way to make their unpopular income tax even more unpopular. In the face of rampant cheating, they've adopted a new enforcement technique. Now, instead of just pawing through paychecks, bank statements and the like, officials will also scrutinize spending habits. Living beyond your means (or at least means as reported to tax officials)? Expect a visit from the tax man. This strikes me as pretty much intolerable. It's bad enough to have tax officials digging through all the ways you try to earn a little scratch. Now they want to see how you fritter it away, too. That could get embarrassing. (Nightmare scenario: "Excuse me, sir, but your spending on Viagra seems out of line with your income/age/marital status/attractiveness.")...
View Joe Thorndike's opinion in its entirety on the taxanalysts® Blog.
For further information, see the taxanalysts® news story reporting on Italy's new enforcement measure, "Italy Launches New Weapon Against Tax Evasion" - taxanalysts® Worldwide Tax Daily, January 29, 2013.
Discover the features and benefits of LexisNexis® Tax Center
For quality Tax & Accounting research resources, visit the LexisNexis® Store