Italy imposes 20% tax on all incoming wire transfers. Bitcoin users not affected.

[peilthetraveler]

http://www.zerohedge.com/news/2014-...taly-imposes-20-tax-withholding-all-inbound-m

So in Italy now, if you have an incoming wire transfer, you automatically pay 20% unless you can prove you're not a money launderer. Bitcoin is about to be the goto currency for wire transfers in Italy now.

 

[HeSaidSheSaid]

I don't understand the rationale why one would squeeze the money supply. Potentially, this type of money would invest in Italy. I 'd do the other way around (to make it hard to take money out of Italy). probably, too much dark money generated by the Mafia

 

[Bac0n]

Italy wants Cartels money, they want their cut i see

 

[Grandluxe]

Dunno if this news can be trusted as its from ZH.

 

[Hoi]

Dunno if this news can be trusted as its from ZH.

If you read it you would have learned that this news is quoted from here:
http://www.ilsole24ore.com/art/noti...omatica-bonifici-estero-064329.shtml#comments

Maybe some native Italian, here on ET, can confirm?

 

[just21]

Not one mention of bitcoin in the comments under that article.

 

[Clubber Lang]

Bitcoin is about to be the goto currency for wire transfers in Italy now.

LMAO. You bitcoin guys are just like penny stock promoters.

 

[peilthetraveler]

LMAO. You bitcoin guys are just like penny stock promoters.

<iframe width="560" height="315" src="//www.youtube.com/embed/eYPpDY0BA00" frameborder="0" allowfullscreen></iframe>

 

[gdtrader]

I know Italys domestic taxes are as high as 60% for regular workers.. They even have automatic alerts to their tax collectors for transaction over 1000 euro..

 

[smallStops]

unless you can prove you're not a money launderer

It seems to me that is a key element.

The implication being that the majority of inbound to Italy wire transfers are about money laundering.:eek: