Italian jitters
Article Abstract:
Traditionally, Italy has used non-standard financial reporting practices, but the situation poses problems as the country prepares for the opening of the European Community (EC) financial markets in July 1990. Italy must work to bring taxation, credit, fiscal, and monetary systems in line with EC norms. While many other EC countries have been experiencing decontrol and internationalization for quite some time, Italy has hardly begun. Their taxation system is difficult for taxpayers to understand, new complex taxes appear frequently, and the government has difficulty controlling tax evasion. In terms of monetary policy, 65% of total deposits are still held by government-controlled credit institutions. Changes are happening, however. One example is that the Bank of Italy is attempting to lower banks' reserve requirements and is urging the Treasury to reduce its 30% bank deposit interest withholding tax.
Publication Name: International Management
Subject: Business, international
ISSN: 0020-7888
Year: 1989
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Italy: finita la commedia
Article Abstract:
The Italian government is lagging behind other European Community (EC) members in implementing the directives of the European Commission and in preparing its home market for the challenges of the single European market of 1992. Italian companies are restructuring and expanding, but Italian economic health is threatened by a huge public debt. The government's goal of retiring the primary deficit by 1992 is unattainable due to 6.5% inflation, a strong lira, and burgeoning wage demands. In order to improve its competitive position within the EC, Italy must trim its public sector, make its tax system equitable, aggressively prosecute tax evaders, and seek to develop its southern regions. Europeans seeking to do business in Italy will be confronted with the problems inherent in Italian private enterprise, including a convoluted negotiation process and a fragmented distribution system.
Publication Name: International Management
Subject: Business, international
ISSN: 0020-7888
Year: 1989
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New Anglo-Italian marriage positions partners for rich market
Article Abstract:
Elettronica, a Rome-based, family-owned electronic equipment manufacturer, the third-largest in Europe, recently entered into a deal with Plessey Electronics Systems, one of the largest defense electronics firms in Britain, under which Plessey will receive a 35 percent share in the Italian firm, which has been able to double its sales since 1976 and has a reputation for being one of the most innovative firms in Europe. An important element of the deal is the development of systems using electromagnetic spectrum technology, which one Soviet official claims will be the key to the next large international conflict. How the merger of the two companies will effect the international market for electromagnetic-spectrum-based defense equipment, and NATO's interest in electronic warfare are described.
Publication Name: International Management
Subject: Business, international
ISSN: 0020-7888
Year: 1984
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