October 1, 2022

Wire Service Canada

Complete Canadian News World

Watch out for the car you buy: tax authorities start investigations

Whoever said money solves every problem might not be paying taxes! Be warned, even just buying an expensive car can expose you to bad light under the brilliant lens of the Italian taxman.

Owning a powerful Lamborghini or a cool Rolls Royce is the dream of any car lover. However, even being able to afford it is not always a good thing.

Do you think you have a lot… (Research Lab)

to flee? bad idea …

Tax evasion in Italy is a very serious problem and if you ask “exactly how much?” We can respond with the first data that appears on the web, certified by research institutes and industry newspapers: every year, reliable estimates We are told that tax evasion amounts to around €80 billion which does not reach the tax authorities due to the largely illegal act.

Now, we are not here to talk specifically about this complex phenomenon that no government has dealt with effectively in recent years: We are here to explain Because buying a luxury car can become dangerous. This is precisely because of the massive tax evasion that exists in Italy.

The culture of tax “evasion” means that the taxman in our country uses a somewhat insidious and effective tool to track down alleged tax evaders. And once you end up in the crossfire of the revenue agency, it’s you To prove that you did everything right! So here are the precautions to take when buying an expensive car…

It doesn’t take much…

How Inland Revenue Checks If You Can Really Buy Your New BMW X6 Dealership It’s called an income measure: is an automated tool related to the purchase of a vehicle with a power of more than 185 kW or 250 hp with the assumed income of the taxpayer. Be aware that vehicle maintenance costs such as road tax, insurance, etc. are added to the account.

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If the profit meter shows serious discrepancies between your income and the cost of the car, you can finish In the crosshairs of the tax officer Which at this point can initiate additional investigations and who should be the one to contest the conclusive evidence of the “cleanliness” of the money used in the purchase. Are you unemployed and have a Ferrari in your name? We wish you good luck in proving that this purchase is the result of a donation from a wealthy and merciful relative!

Ideal Taxes 18_08_2022 Quattromania
Be careful what you buy, your future is at stake… (ideal)

In short – and this is a rule that can be applied even if you completely ignore your tax returns – the rule stay oneDon’t buy something you can’t afford. At worst, you may find yourself the subject of an investigation by a tax officer and at best you may regret buying a car that you cannot maintain by spending every penny you have in the bank!