According to reports in the Italian media owners of Lamborghinis, Ferraris and high powered SUVs are being targeted by the Guardia di Finanza, or financial police, for potential tax evasion.
Following a raid over Christmas at the chic Cortina d’Amprezzo ski report tax inspectors traced no less than 133 owners of Lambos, Ferraris and other high end cars and found that almost one-third had declared incomes under €22,000 (just over $29,000) while another 16 claimed to earn less than €50,000 ($66,600) a year.
These spot checks are now being carried out across Italy: a Florentine builder driving a brand new Merc was found not to have filed any tax returns and his wife was on welfare.
As a result high end cars are being sold in droves, many being snapped up by opportunistic entrepreneurs in Poland, the Ukraine, Moldova and the Czech Republic. Last year some 60 Porsches were exported from Italy each week – that figure has more than tripled to 200.
Italy’s new prime minister, ‘Super’ Mario Monti is clamping down on tax evasion in an effort to reduce Italy’s crippling financial state, and when tax evasion amounts to nearly $367 billion or 17.5% of GDP then everyone with a chic lifestyle and a luxury car is likely to be investigated.
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