Developments in the real-estate sector are of crucial importance for the business cycle and financial stability. This study analyses developments in the Italian housing market on the basis of both real and financial variables. Following the sharp contraction of the market during the financial...

The European Union's VAT system has become vulnerable to organized fraud schemes. In recent years, these schemes, undergoing a change in structure, have affected services and imports of goods from third countries and may also have shifted trade in goods among EU countries. Within the EU-27,...

The European Union's VAT system has become vulnerable to organised fraud schemes. In recent years, these schemes, undergoing a change in structure, have affected services and imports of goods from third countries and may also have shifted trade in goods among EU countries. Within the EU-27,...

In order to hold back tax frauds in the real estate sector, in July 2006 the Government enacted provisions including a radical change of the VAT regime applied to commercial buildings. The impact of the decree was unbearable for the market; for that reason it was almost immediately amended. The...

Reduced VAT rates have positive and negative effects. In this article, the authors briefly discuss the main studies available on VAT rate structures and the impact of those structures on tax revenues. They have also developed a method for calculating the “erosive effect” of reduced rates and...

In this article, the authors examine residential real estate taxation in some European countries. The authors outline the types of direct and indirect real estate taxes, present statistical data to demonstrate the structure of and tax yield and offer conclusions regarding the impact of tax...

In this article, the author describes the differences between the Member States as regards the VAT regimes currently applicable to financial services and the existing problem that financial institutions, in particular businesses in the banking sector, cannot recover input VAT. In addition, he...

The article analyzes the first VAT fraud on voice over Internet protocol (VoIP), the Phuncards-Broker operation, which took place in Italy between 2005 and 2007. The authors explore the policy implications for tax authorities, looking at how changes in their strategies may reduce incentives to...

Italian Abstract: Il lavoro esamina la cedolare secca e l'Imu. Nel reintrodurre la tassazione patrimoniale sulle prime case, l'Imu ha di fatto esentato quelle corrispondenti ai normali fabbisogni della famiglia italiana, tranne che nelle grandi città; l'aggravio sulle altre abitazioni è stato...