Bloomberg

Italy's love of cash is tested by Conte's tax capture trick

Italian Prime Minister Giuseppe Conte. Foto: Olivier Hoslet

Italian Prime Minister Giuseppe Conte is about to embark on the country's most experimental stimulus of the coronavirus crisis yet in a bid to wean citizens off cash -- and the tax avoidance that comes with it.

His government is working on a measure to refund 10% of payment card transactions, handing back a maximum of 300 euros ($354) per person, in a stimulus that runs until 2022, according to officials with knowledge of the plan. As a sweetener, participating consumers will also qualify for a lottery with a prize pot totaling 300 million euros...

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