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  1. Wealth
March 25, 2009

Reuters: Sardinian HNW tax repealed

By Spear's

ROME (Reuters) – The new governor of the sun-swept Italian island of Sardinia is repealing a tax on the mega rich that will benefit, among others, jet setters like billionaire Prime Minister Silvio Berlusconi.

ROME (Reuters) – The new governor of the sun-swept Italian island of Sardinia is repealing a tax on the mega rich that will benefit, among others, jet setters like billionaire Prime Minister Silvio Berlusconi.

Governor Ugo Cappellacci, the son of Berlusconi’s tax adviser, proposed a budget that repeals the tax on mooring luxury yachts and landing private aircraft on the island where the prime minister owns a holiday mansion.

The luxury taxes, which opponents said scared away the rich and hurt tourism, were introduced under the previous centre-left governor, Renato Soru, who was ousted in elections last month.

To read the full article, visit reuters.com

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