Italian Economy This article explains in a generic way on what the italian economy is based on. Italy is small country which has a industrial economy developed in the north, instead in the south the economy is based on agriculture which is quietly developed and important for our exports, but the problem is that at south the unemployment is really high. But not only in the south, unemployment is increasing in all italy reaching 8.4 % overall and 40 % for the youth.
Guide to italian taxation? Italian taxes on income are exponentially high and vary from the income range. In fact, the people who earn more than 120.000 euro per year get taxed 43% on their income, instead the one who earn an amount up to 36.000 euro per year get taxed 23% on their income. In this article is also explained how the italian taxation system work and what changes are gonna be in the actual taxes. But also how taxes affect foreigners worker or italian workers that have a job in another country.
Why italian’s economy is going to collapse? Italy right now is facing a bad period having huge debts a contracted economy, inadequate banking systems, engorged public sector and festering corruption mean that Italy is facing a troubled future. The banking system is collapsing with more than 200 billions dollars of debts, the real economy debts is about 259 percent of GDP and has been increased by 55% from 2007. In conclusion italian government has a 2.2 trillion USD debts. The topic of this article is basically how bad italian economy is.
Why is tax evasion so bad in italy? Italy in 2011 had a GDP surplus of 0.8 because they take in more in taxes that what they actually spend. Even though the high taxation can be seen as positive is destroying italian’s economy and make the numbers of tax evaders increase exponentially. In Italy tax evaders are costing the national treasure 340 billion dollars per year. Then If tax were lowered there will be way less tax evaders therefore italy could pay his 2.6 trillion dollars debt back.