A global tax evasion ring has been uncovered by Italian finance police. Unpaid taxes exceeding 30 million euros ($36 million) were discovered following a routine check on two luxury cars, one from San Marino and the other from Monaco.
A total of nine people were arrested following a background check on the drivers of the two cars. The police in Frosinone, a city 90 kilometers (56 miles) south of Rome, were surprised to discover that they had no registered assets.
The tax evasion ring used a number of tax-haven based front companies in places like Madiera, San Marino and Panama. Over the past three years the group, which included four accountants, evased the paying of more than 30 million euros, according to the police statement.
Italy is no stranger to tax evasion. The country loses some 120 billion euros every year through unpaid taxes. The government have adopted a plan that aims to tighten up on tax evasion, according to a statement made by Prime Minister Silvio Berlusconi in May.
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