Tax Evasion in Italy Decreases by pound 25 Billion Annually Since 2017 – BoI

Rome: Tax evasion has fallen significantly in Italy in recent years, Giacomo Ricotti, the head of the Bank of Italy’s fiscal service, told a parliamentary hearing on Wednesday.

According to Ansa News Agency, Ricotti stated, “In recent years, overall tax evasion has decreased, both in absolute terms and in percentage terms.” He noted that in 2017, tax evasion stood at pound 97 billion and has now decreased by around pound 25 billion.

Ricotti highlighted that the propensity to evade taxes has fallen by almost six percentage points, from 21% in 2017. The central bank’s most recent estimates pertain to 2021, when tax evasion amounted to around pound 72 billion in Italy. This figure rises to around pound 82 billion when including the evasion of social-security contributions.