...Vado al massimo! – Going at top speed (870% profit)

“Going at top speed” is the title of a famous song of Vasco Rossi.

A pack of Virginia Slims costs its manufacturer 7 cents; he sells it at 67 cents.  This is an 870% profit.

Now the European Union wants to increase the excise tax. Obviously, a thirty-cent tax increase per packet would force manufacturers to raise their prices too, if they want to continue making the same profits.

The problem is that there is a generalized concern that such a price increase would be an incentive for smuggling. Therefore, the State should waive the increase of fiscal revenues. Big Tobacco, in fact, is going at top speed,  it would be a real pity to stop it! Read more »

Italy – who evades the most, wins the prize

If one leaves an unpaid bill that could enter the Guinness Book of Records, you would expect that someone would try to make him pay up,  but instead…

Giovanni Giorgetti

Giovanni Giorgetti, director of the “Centro Studi Economico e Finanziario ESG89”

After a study, conducted by the  Economic and Financial Studies Center «Centro Studi Economico e Finanziario ESG89», of the balances of over 800 capital companies operating in the agricultural sector, Philip Morris, with the sum of 1,450,167,854.00 euro, was ranked “first for turnover among all the companies operating at a national level”.

A prestigious result, that is to be expected from a top-class company!  But what has Philip Morris got to do with Italian agriculture? Read more »

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