Italy's Austerity Leads to Ferrari Sell-Off

(While Ferrari’s sales in Italy were hurt by an “anti-rich” political campaign)

This sounds familiar here in the Sates!

 

While I do not agree with a country using so-called "financial police", I do support any country enforcing its tax laws.

 

what's the average transfer cost to make a European car street legal in the US (paperwork, modifications, transport)?

$15k?


Kai

 

Italy should fear the exodus of the rich not their cars.

 

yep. as they leave, so will more jobs and tax revenue.

 

Really??? No matter how unjust, illegal, or morally wrong you support any country enforcing its tax laws? Respectfully, I hope you don't mean that how it sounds.

 

In this market and this economy, there are strange dealings and recoveries in many ways and in many markets.

 

Much much more, if it can be done. The loopholes were closed about 10 years ago.

 

Ouch, didn't realize it was that much. I was about to send my brother in Germany to italy and pick me up a 2008 612...

Kai

 

if you find a way to do it count me in too. i'll pay you a helpers fee

 

In a democratic republic, if the tax laws are "...unjust, illegal, or morally wrong...", then its up to the people to elect a new government to change the laws. To just not pay your taxes is unjust, illegal and morally wrong and will lead to anarchy.

 

Italy without a touch of anarchy would be Switzerland with beaches.

 

I think we have already had this discussion several months ago. Try this:

http://ferrarichat.com/forum/showthread.php?t=361219

One common comment was that Italy has a much lower percentage of tax payers who comply with tax laws vs. the US. I believe the compliance percentages for the US were over 95%. In Italy, it was much lower, but I do not have the exact figures at hand.

Good discussion through. I hope Italy gets its economy back on track soon.

Cheers,

Jeff
Dallas, Texas
1994 Alfa Romeo 164 LS

 

I keep reading about this and looking into it but everywhere I look online for Ferraris on sale in Italy, I don't see great deals and prices still seem better in the US. Are there any Fchatters who can chime in with an example of a purchase or an ad of someone getting a bargain? Cause I have yet to see it.

 

Berlusconi is paying four million bucks a month in alimony.
Austerity Italian style.

 

. . . anti-proof that others are better than me in some way . . .

 

P&R posts will be deleted. Further action beyond this warning may be taken for continued violation of this long-standing rule.

 

Geez. I sure hope Italy can rebound from this. Italy without Ferraris is like Switzerland without chocolate.

 

Police there grilling owners on their financial wherewithal to own such car etc. is probably forcing owners to go more underground. Not driving as much, word of mouth sales, moving their cars out of the country etc. That could explain why a "fire sale" isn't being witnessed as austerity doesn't necessarily affect the rich per se it just forces them to operate more quietly.

 

The cars can be sold anywhere in Europe so all this means is the is a slightly greater pool of used cars than usual in Europe.

It won't make a great deal of difference to prices.

 

True story: There are several honest tax-paying citizens in Italy with luxury cars that keep a copy of their income tax returns in the car in case they get intercepted by the guardia di finanza which is equivalent to the IRS in the US with the exception that the IRS doesn't have a fleet of patrol cars like they do in italy.

 

Yet.

 

Now that the US is going over a "fiscal cliff" read: austerity, we'll see if there are any sell off bargoons here?