Economy

Italian revenue service gets access to bank accounts

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Pursuant to a new law enacted by the Monti Government, the Italian revenue service will now get access to bank accounts and financial transactions.

The Italian Mail, as well as banks and financial institutions operating in Italy, will be compelled to share the relevant data with the Revenue Agency.

The new law is aimed at tackling tax avoidance, which is rampant in Italy.

Mr Berlusconi’s coalition, usually opposed to similar measures, didn’t speak out against the implementation of the law, being probably busy with monitoring the attempt to form a Government by the Democratic Party.

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