UPDATE 1-Over 2,000 Italians probed in new tax crackdown

* Over 2 bln euros transferred abroad between 2007-2008

* More than 2,000 Italians caught up in probe

(Adds details)

ROME, Feb 26 (BestGrowthStock) – Italy is investigating more than
2,000 citizens who stashed money abroad to evade taxes in the
country’s latest bid to recoup billions of euros hidden in
offshore havens, the tax agency said on Friday.

Italy, whose economy shrank nearly 5 percent last year, is
one of several European countries under pressure to raise tax
revenue and support their economies hit hard by the global
financial crisis.

The Italians being probed transferred more than 2 billion
euros ($2.7 billion) abroad to tax havens between 2007 and 2008,
the agency said, adding most were from northern or central
Italy.

The offensive follows a successful Italian tax amnesty that
prompted Italians to declare 95 billion euros illegally held
overseas, almost all of it repatriated to Italy. [ID:nLDE5BS0NJ]

Italy is expected to reap a further 30 billion euros after
extending the amnesty to April.

The move comes as European governments step up the fight
against tax dodgers. Germany for instance has said it would pay
2.5 million euros for stolen bank data with information on tax
evaders. [ID:nLDE61505O]

Italy’s offensive against tax havens has led to tensions
with neighbouring Switzerland, which was placed on a blacklist
of countries not cooperating with the amnesty. [ID:nL4193376]

Switzerland summoned the Italian ambassador in October to
demand an explanation of raids by police and tax inspectors on
dozens of Swiss banks in Italy.

Investment Research
(Reporting by Deepa Babington; Editing by David Holmes)
($1=.7421 Euro)

UPDATE 1-Over 2,000 Italians probed in new tax crackdown