‘Tax compliance would boost Italy’s GDP by 3.1’

Rome, Dec 17 (IANS/AKI) If tax dodging in Italy was halved, the economy would grow by 3.1 percent, creating an extra 335,000 jobs, the country’s Confindustria main business association has announced.

Tax evasion this year alone will drain a massive 122.2 billion euros ($132 billion) from Italy’s gross domestic product (GDP), Confindustria’s research unit said in a forecast on Wednesday.

“Dodging taxes, pension and social security contributions stifles Italy’s development,” the forecast warned.

“It militates against fairness and solidarity, distorts competition and worsens relations between citizens and the state,” it added.

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