Italy expects 3-4 bln euros in tax from amnesty

ROME Nov 5 (Reuters) - Italian Economy Minister Giulio Tremonti told a meeting of government senators on Thursday that he expects 3 to 4 billion euros in windfall revenues from a tax amnesty this year, a legislator said. The minister told the senators that Italians taking part in the amnesty would be repatriating an average of 800,000 euros each, said the senator, who asked not to be identified.

With a one-off tax rate of 5 percent, the minister's statements imply Italians would repatriate a total of around 60 to 80 billion euros.