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Saturday | February 27 | 2021

5.4 million Italians signed up to a scheme which offers a 10% refund for card payments

More than 5.4 million Italians have signed up to a government scheme which offers a 10% refund for card payments in stores by the end of the year.

This action is an attempt by authorities to reduce tax evasion and help retailers affected by the coronavirus pandemic (COVID-19), reports Reuters.

The ”cashback” initiative will officially start next month, but the pilot program began on December 8 and lasts until the end of the year.

The scheme, which allows savings of up to 150 euros, has already attracted 10% of the adult population.

”Cashback” program will be doubled from January 1, 2021 by an ”invoice-based lottery” and a prize of 1,500 euros for 100,000 people who have the highest number of card purchases in a period of six months.

Prime Minister Giuseppe Conte’s government estimates that the use of card payments will reduce tax evasion, estimated by the Ministry of Finance at almost 109 billion euros a year.

Analysts believe that Italy has the largest tax evasion in the European Union.

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