Italy goes BONKERS with porn TAX
 

I'm guessing alot of italians will be moving :) way to drive business out of a country..
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ROME (Reuters) - Italy's cash-strapped government has decided to hike taxes on one of the country's few vibrant industries, pornography, to help rein in the burgeoning budget deficit, government sources told Reuters Tuesday.

The "porno-tax," which imposes an additional levy of 25 percent on all income from pornography, is contained in a package of amendments to the 2006 budget to presented in the Chamber of Deputies Tuesday or Wednesday, the sources said.

Under the amendment, subscribers to hard core television channels must also pay additional value-added tax of 10 percent. Altogether, the tougher tax-treatment of porn should bring the government some 300 million euros next year.

A recent study by the Eurispes institute estimated revenues for pornography and related industries in 2004 at some 1.1 billion euros, up 100 million euros from the previous year and up 27 percent since 1991.

That is equal to about one-third of the revenues for a company like Italy's Mediaset, one of Europe's largest broadcasters, or about the same as the Giorgio Armani luxury goods group makes.

Italians spent an estimated 247 million euros on pay-TV porn in 2004, up 63 million euros from the previous year, as more satellite operators offered clients subscription packages.

NEW TAX AMNESTY

The center-piece of the budget amendments package, which has been seen by Reuters, is a new tax amnesty, despite numerous assurances from the economy minister that there would be no recourse to this often-used and much-criticized deficit plug.

The latest amnesty, by which tax dodgers can settle disputes with the authorities by paying a small proportion of what they owe, is available to companies and self-employed workers for allegedly unpaid taxes in the 2003-2004 fiscal year.

It is flanked by a more forward-looking tax measure aimed at reducing tax evasion, by which companies and self-employed workers can agree in advance to pay a limited sum for the next three years rather than make regular tax returns each year.

The tax amnesty and the forward-looking "tax agreement" aim to garner a total of 3 billion euros.

Government officials said this would not be an additional deficit cut but would substitute "less certain" revenue raising and spending cuts previously pencilled into the budget.

The draft budget, which was presented in September, aims to cut the 2006 deficit by some 16.5 billion euros to 3.8 percent of GDP from a targeted 4.3 percent in 2005. The package must be approved by parliament by the end of the year.

Too lazy to read it all... congrats to the winners...

i guess there aren't many italians here ?

I wonder how well this would go over in the u.s.a.

:1orglaugh I should give you a copy of gfyLITE

Not only can it read back everything written, its got hundreds of pre-programmed gfy catch phrases included , so you dont even have to type.
like

"i'd hit it !!"
"you da man"
"shaves"
"been posted"
"tranny"
"50 sales"
"i have a 1:2 ratio"
"i own 2 of those"

:1orglaugh
funniest reply I read in weeks lol

lol, no shit!

It'll land here in the US within the next 1-3 years for sure. Someone's gotta pay for all the shit we've been blowing money on lately and an increase in audits aren't going to make THAT big of a dent in the massive bills piling up.

:/

everyone would just move to the country with the least tax

that probly mean they will pirate it more.

totally agree, just have to find the right mix of weather, culture, tax climate and location...

I'm imagining the US being much closer to EU levels of taxation within the next decade :/

3 major financial possibilities on the horizon I'm not sure if or how they'd play into that equation though....housing bust or flat, possible pandemic (bird flu or monkey pox, super duper aids, whatever...etc...), and continued war on the al-qwaadassss

:1orglaugh :1orglaugh :1orglaugh

:1orglaugh

the world is watching that move...

Hey guys, no problem here...next spring will be the elections...this law will be cancelled by the new government...ohhh I hope...damn...

..and porn is still their last resort... :winkink:

The U.S. will never set a tax in motion for porn, it would legitimize it, just like the .xxx domains.

The u.s. wants porn gone in the name of "obscenity"

:thumbsup that is absolutely right. I agree one hundred percent.

why not 110%? :D

Sounds like a dsperate move on the government's part.. :disgust

any italian webmasters looking at moving now then? 25% is ridiculous

You live in a dream world.

Taxes are the lowest they have been in decades!

I have lived in Europe and until you have lived thru the daily hell of the European system you can not understand how clueless your post is.

We are considered a Tax Haven by most European countries, literally.

And let me guess, you smoke weed. Your post drips of weed induced paranoia.

No more ridiculous than the existing 20% VAT.

A Tax by any other name is still a Tax. So this 25% + the existing 20% VAT = 45% tax

That is about right for Europe.

He said Italy, Not France.

that is a good tax. This will ensure that nobody is busted for not being 2257 compliant in Italy because doing so would cost the gov money.

Itally has no clue...