OCR Text |
Show Foreigners' Property in Italy Under New Tax ROME, March 25, A tax would be Imposed on property in Italy owned by foreigners not living in this country under the proposed new taxation and finance law which tho government has laid before the chamber of deputies. This tax also would apply to Italy's stocks which such foreigners mav hold. Any money owed abroad by Italian subjects or companies also would be heavily taxed. Subscribers to the loan of 1920 and capital brought into Italy after January 1, of this year, would, however, be exempt from taxation. The proposed tax on Italian stocks and shares held abroad is criticised by the financial expert of the Tribuna, as unjust on the ground that this property prop-erty already pays an Incomo tax in the country where the owner Is living. The paper points out that such a tax would be likely to discourage entrance of foreign -capital Into this country which is so necessary for Italy at this moment. |