“Can I bring you 80 thousand euros?” The patrimonial nightmare begins


The specter of the patrimonial wanders in the beautiful country. It has been talked about for some time. The economic situation is delicate. Public debt is growing month by month. And so, whoever can, tries to send his capital away. Abroad. Maybe in some Swiss bank. “I receive calls from Italy almost every day. They call me because they want to open an account that is not in euros and they want to make money safe, here in Switzerland, some for 80 thousand, some for 150 thousand euros. This time they are not millionaires but workers employees, including state employees “. From his office in the center of Zurich, the lawyer Enzo Caputo, founder of the law firm Caputo & Partners, tries to explain to the Sole 24 Ore the phenomenon that has appeared before him in recent weeks. Surprising even for those who have always put themselves at the service of Italians who want to bring money across the border.

Savers are worried. They are afraid of a possible property tax and do not want to invest their money, only to leave it protected in one bank safety. The signal comes just as the Italians run to deposit liquidity in their current accounts (16.8 billion euros last March, 254% more than in the same month of 2019). And while the BTP Italia records an unexpected record collection of 22.3 billion.

Who monitors capital movements fromItaly for some weeks, it has been perceiving an intensification of the flows of money that abandon our country for foreign countries. A trend that has regained strength coinciding with the explosion of the pandemic. The money brought in by Italians abroad in recent years is plentiful. But the rumors of a balance sheet and the initiatives of some parliamentarians who have ventilated a solidarity levy for higher incomes, risk throwing new gasoline on the fire.

In recent months, the debate on the return of capital from abroad has intensified. There would still be approx 200 billion euros of Italian savers outside Italy. According to theRevenue agency, the latest “voluntary disclosure” revealed in 2015 almost 60 billion euros held by Italians abroad. Almost 70% (approximately 41.5 billion) were deposited in Switzerland, 7.7% in the Principality of Monaco, 3.7% in the Bahamas, 2.3% in Singapore, 2.2% in Luxembourg and 1.9% in San Marino. Much of this regularized money remained deposited across the border.

in tax havens there are at least 142 billion euros hidden by Italian taxpayers. It is a figure equal to about 8.1% of the Pil. But the real numbers are much higher. In fact, property, cash, cryptocurrencies, works of art, diamonds, gold, luxury cars, antiques and life insurance policies are excluded from the counts. Not a little thing. Fabio Di Vizio, deputy prosecutor in Florence and with great experience in fighting tax evasion, confirms the signs: “My feeling – he explains to The sun 24 hours – is that there is a constant flow of resources. The trend seems to me quite marked and clear “.

After Brexit, Italy is the third country in the European Union for the amount of wealth accumulated in offshore centers. Germany ranks first with € 331 billion, France second with € 277 billion. Certainly in recent years, thanks to the agreements on the automatic exchange of information, tax havens have gone a little bit in pain. According to the OECD, bank deposits held by foreigners in offshore centers fell by 24% between 2008 and 2019, with a loss of 410 billion dollars. Much of these funds were in Switzerland.

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