The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". This cookie is set by GDPR Cookie Consent plugin. These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. That motto is still on the table, as the Italian government needs as much money as possible, even if it comes in small pieces of lottery tickets and receipts. Money does not stink, whatever the source is (referring, at that time, to taxes collected by using public washrooms). And who knows, although the results achieved in other countries by the lottery receipt experiment have not been particulary encouraging, Italians are so addicted to games of chance that they should really like the idea of more oversight of their transactions, if they can use receipts to play in a national lottery.Īn Ancient Roman emperor once said pecunia non olet. Consequently, the Italian legislator is taking a harsh path in order to stop the massive and un-traced cash flow, securing more tax income. The situation is troubling, since a large percentage of cash payments represent a huge volume of transactions that are hard to track. ConclusionsĪccording to the survey, Italy is tremendously above the average values of European countries as far as the use of cash is concerned. Germany and France are performing well, with a rate of 55% and 28%, respectively. The country where cash payments represent the highest total value is Greece (75%), while Netherlands has the lowest rate (27%). Italy is still above this average by almost 15 percentage points. Moreover, in the Eurozone, consumers use cash for 53.8% of the overall value of transactions. Among other countries, Germany performs slighty better than Italy (80%), while France stands out as one of the best (68%). Worse than Italy, besides Malta, are Spain (87%), Greece and Cyprus (88%). The country where cash is used at the highest rate is Malta (92%), while Netherlands represents the best country (only 45%). Italy is above the average by 7 percentage points. This wide discrepancy indicates that people use cash to carry out micropayments.Īre these numbers some kind of anomaly in Europe? Let’s check it out.Īmong the Euro – zone countries, consumers use cash for 78.8% of all transactions. In 2016, Italians perform cash transactions for 85.9% of all payments, equal to 68.4% of the overall volume. Once reviewed the budget law, a comparison with other European countries would be useful in understanding the severity of the situation. The bleak scenario: comparing Italy with the Eurozone In addition, non-cash payments improves the chances of winning the prizes. Oddly enough, the measure looks tremendously useful, as tickets provided by every shopkeeper guarantees that they are paying their taxes. Three monthly monetary prizes and an annual large jackpot will be given out, in order to encourage consumers to ask for the receipt.
According to this provision, every month people can join a lottery thanks to receipts they get by performing transactions. Lastly, the reform provides for a “receipts lottery” following the Taiwan model. The budget law not only provides for a maximum cash cap on cash transactions of a thousand euros (from 3,000), but also for economic sanctions if shopkeepers refuse debit or credit–card based payments.
#PECUNIA NON OLET ORIGIN CRACK#
When less (cash) is betterīack to our issue, the yellow–red government put together a cashless plan in order to boost electronic payments and crack down on tax evasion.
What a strange world, that of family men. Moreover, we should highlight that Giorgia Meloni, nowadays defending “the right of family men to gift a thousand euros in cash to their children,” backed the 2011 reform lowering the cash limit from 3000 to 1000 euros. They make up a significant vote bank able to represent the tiebreaker in future elections. Therefore a reasonable suspicion arises that Matteo Salvini and Giorgia Meloni want to fish for votes from the abundance of Italian evaders who do not pay taxes and yet still demand social services. In that sense, they are the perfect assistance to boost tax fraud. In fact, it is hard for supervisory authorities to track cash payments.
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