Image: (APA/AFP/TIZIANA FABI)
This involved illegal tax credits from government funding programs that were intended to support home renovations.
Investigations are underway against 311 people, said the financial police in the northwestern port city of Savona. Tax credits worth a billion euros were frozen and 85 companies in ten Italian regions were raided.
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Italy has introduced a number of programs in recent years to stimulate the economy, including the so-called Superbonus, which allowed homeowners to deduct 110 percent of the costs of energy-saving work from their taxes, or the massive tax credit as a means of payment for transactions with construction companies or banks to use.
In Thursday’s operation, police said they found that the €1 billion in tax credits “did not exist at all, having been obtained through the use of false invoices for work that was never carried out.”
The government of Prime Minister Giorgia Meloni announced last month that it had uncovered a fraud worth 16 billion euros in connection with the various bonus schemes. On Tuesday, Italian lawmakers approved measures to curb costly stimulus measures that are burning a hole in state coffers.
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