The Italian Government Takes No Prisoners In Its War On Tax Evaders
If you are in any doubt
about the scale of the super yacht exodus accros the Club Med Countries have a
quick look at this report on empty marinas across Italy.
Meanwhile who’d want a new Ferrari after last
year’s campaign against tax evaders – which involved tax inspectors raiding the
owners of luxury cars in smart ski resorts and visiting Ferrari-owner events to
check the tax returns of every single driver? According to the blogging
hedge fund manager at www.macro-man.blogspot.com the “persecution of Ferrari owners” has become
so severe that they are selling them in their thousands. You can now pick one
up for the “price of a new VW Polo”.
This is not only bad for
Ferrari but all Luxury Car companies, not only are sales being hit by general
austerity and shocking enforcement of the law, but global second hand prices
are likely to be hit by the new exodus of cars from Italy. “This is going to be “a vicious value
collapse” says Macro Man.
Will this mean people will
be turning against ostentatious wealth, and luxury brands associated with it?
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