Feb 09 2012 ↓Jump To Discussion
| Follow > Unusual Italy tax agency -luxury Ferrari vs. Fiat -rich Italians -tax evasion -tax fraud -trading Ferraris |
MILAN – Some 30 rich Italians have traded in their spectacular Ferrari car for the quite smaller, simpler and notably slower Fiat.
More and more Italian Ferrari owners are opting for the trade in after noticing that the country’s tax agency shows a ‘special interest’ in Ferrari and Lamborghini owners.
A luxury car dealer in Milan says the ‘trend’ began in December after Italy’s Premier Mario Monti announced that part of bringing the country’s budget under control consists of becoming very tough with tax evaders.
"Used" Ferraris can be had in Italy at major discounts as rich Italians try to get rid off their expensive vehicles. Courtesy: AP
Last month, Italian police stated that just last year, the tax agency discovered over 50 billion dollars of none-reported income from tax evaders.
The rich Italians say however their are trading in their luxury car for a cheaper model because they don’t have the money anymore to afford such an expensive vehicle.
According to a spokesperson for Italy’s Fiscal Police force that is not so and the rich are trading their expensive vehicles because up until now they have only reported low incomes.
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