Visco: ‘Transfers to tax havens higher by 36% than … – The Daily

Visco: 'Transfers to tax havens higher by 36% than … – The Daily

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“In other conditions being equal, the flows in favor of the so-called ‘ tax haven ‘ are about 36% higher than those of others foreign countries. ” To reveal the figure, that’s dramatic, was the governor of the Bank of Italy Ignazio Visco , a hearing at the parliamentary commission of inquiry into the phenomenon of gangs, citing the findings from the study on credit to countries at risk the result of collaboration between the Financial Intelligence Unit and the Economics and Statistics Department of the Bank of Italy. This “anomaly index,” said Visco, “is positively correlated with both the crime rates linked to the theft and trafficking drug in the province of origin of the bank, both measures of risk of recycling and Opacity of financial legislation in the co untries of destination. “

” L ‘ most significant economic impact of the crime is not so much in the value of what is produced through criminal activity, but, with effects much longer period, the value of the no product because of distortion generated by the spread of crime. ” “A contribution to the creation of a more oriented to legality,” according to the number one of Via Nazionale, “can come from specific incentives, as could become the rating of legality”. The reference is to the provisions of the ministerial decree of the Treasury issued February 20, 2014, under which banks must “take into account the rating in lending” and “transmit to the Bank of Italy by 30 April a report relative to cases where the ratings did not affect the procedure for granting the credit. ” “We have included – reminded Visco – compliance with the provisions of t he elements that must be considered in the analysis of the qualitative profile of credit risk of the intermediary.”

Visco then recalled that the estimates “that are based on the amount of currency in circulation suggest that the economy Illegal in Italy, in the years 2005-2008, could weigh more than 10 percent of GDP,” as confirmed by ‘ Istat that last fall he entered in the estimates of gross domestic product also includes income from illegal activities.

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