Italian deputy PM proposes taxing safety deposit boxes

The Italian government may go after people’s savings located in safety deposit boxes in banks, La Stampa writes. Italian Deputy Prime Minister Matteo Salvini believes there is a substantial amount of assets stored in banks—as much as hundreds of billions of euros. He claims that taxing those savings could bring back money that is otherwise “kept under the mattress” and “hidden.”

Salvani said those who declare their holdings will pay a 15 per cent tax. Thus, the money would be “re-introduced” to the Italian economy.

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