Bank of Italy expresses concerns over flat tax

Official says policy is typical of emerging markets and could weaken income redistribution

Bank of Italy
The Bank of Italy
Photo: Aleksandrasana/Wikimedia Commons

The Bank of Italy has warned the country’s parliament that the government’s flat tax plans would have to take redistributive effects into account.

In testimony before a committee of the parliament’s lower house on May 18, the head of the central bank’s tax assistance and consultancy service said no other advanced economy utilised a flat tax system.

Giacomo Ricotti noted that flat taxes are mainly found in “economies in transition or developing [economies]”. These have fewer welfare commitments

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