Those fortunate enough to own and operate a supercar like a Ferrari or Lamborghini in Italy (rather than rent the luxury lifestyle) are being pulled over rapidly…not for hitting 0-60 in 3.5 seconds, but for tax verification! These days, when an officer spies an exotic sports car cruising the streets, they pull them over and ask for license, registration and tax registration ID.

Italy has uncovered over $12 billion in unpaid taxes this year alone. In one case, a plumber in Pescara owned three homes and used 30 bank accounts… and disguised his wealth by rolling in a Ferrari.

So far, approximately 80 have been arrested and authorities are investigating around 2,000 more for potential tax fraud, evasion and underpayment. Those who failed to declare earnings that afford them such luxury cars are being rooted out and ordered to become current on their tax obligations and other punishments.

So why the ambush-style crackdown? The country is struggling beneath a $2.5 trillion-dollar debt–and one way to alleviate the stress is to target those who go to great lengths to avoid paying their hefty taxes: luxury car owners, night club owners, yacht owners and others who flaunt extravagant lifestyles. Authorities are clearly saying, ‘I see your Maserati and raise you an inquiry!’

Drivers of hypercars will be seeing even more of this!

You have to pay to play, folks, so if you have the money to buy a sports car, it does not necessarily mean that you can afford to own it. There are many extra costs associated with owning luxury items, including taxes, maintenance, proper storage, insurance and more…which is why many affluent auto aficionados opt to rent a luxury car when the urge strikes, it is much more palatable to the pocket book!

You can rent a Ferrari for an hour, day or week and feel like a million bucks!

 

 

Post by Imagine Lifestyles Luxury Rentals