ITALY: Use social-media data in fight against tax evasion says Leo

The government is looking at the use of data scraping from social-media platforms in the battle against tax evasion, Deputy Economy Minister Maurizio Leo said on Wednesday.

“What needs to be done, and what we are working on with the Inland Revenue Agency (l’Agenzia delle Entrate), and (public IT agency) Sogei, is so-called ‘data scraping’, which means taking account of the standard-of-living data that professionals and entrepreneurs publish on social networks (and seeing if it is compatible with their tax declarations),” Leo said.

“We have already started discussing this the privacy authority, and they are willing to cooperate, as long as the protection of personal data is not prejudiced.

“Collaboration with the (privacy) authority is absolutely fundamental.

“Tax evasion is huge weight (on society), like terrorism, and we all must cooperate”.

19 March 2024

HONG KONG: Hong Kong tops Asia family office rankings

Hong Kong boasts almost twice the number of family offices than its nearest rival Singapore, according to a newly published report. The study commissioned by the Hong Kong government and published by

Read More
4 March 2024

US: Hedge funds bet on U.S. real estate rebound

Hedge funds piled into long positions on U.S. real estate investment stocks in the week ending Friday, the sixth straight week that these speculators bet on a rebound in commercial and industrial properties,

Read More
25 October 2024

GREEN FINANCE: G20 waters down experts’ climate finance report, despite UN pressure to act

A climate and finance report by independent economists was toned down after feedback from G20 nations, even as the UN says they must all slash emissions. As UN chief António Guterres called on the

Read More
1 November 2024

GREEN FINANCE: Climate finance to take centre stage at upcoming climate COP

Climate finance will be on top of the agenda when world leaders gather in Baku, Azerbaijan this November for the 29th Conference of Parties (COP29) to discuss future climate action. At the climate conference,

Read More