Thursday, December 15, 2005

 

Italy taps porn industry to help curb deficit

`Italy’s cash-strapped government has decided to hike taxes on one of the country’s few vibrant industries, pornography, to help rein in the burgeoning budget deficit, government sources told Reuters Tuesday.

The “porno-tax,” which imposes an additional levy of 25 percent on all income from pornography, is contained in a package of amendments to the 2006 budget to presented in the Chamber of Deputies Tuesday or Wednesday, the sources said.

Under the amendment, subscribers to hard core television channels must also pay additional value-added tax of 10 percent. Altogether, the tougher tax-treatment of porn should bring the government some 300 million euros next year.’




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