There will necessarily be a portion of the profits subject

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And as JM OTHON SIDOU points out, “the consequences of such a conversion were feared by the government itself in 1947, when it simply advocated, in the reform of the income tax law, increasing the withholding tax rate from eight to fifteen percent. 29 He preferred to face the reform rather than commit an error that had already been sufficiently tested in other countries.” 30

And, indeed, also abroad, in the States and on occasions when it was attempted to definitively and completely suppress bearer shares, the consequences were the most ruinous possible and there was an romania sms gateway immediate return to the previous system. In Italy, in 1920, as ALBERTO DEODATO states:

“Once the law was published, protests and distressing appeals began. It was the Italian Discount Bank that declared the measure premature and threatening to the country’s economy and finances. It was all the bankers in Italy who represented the Minister of the Treasury about the harm that the transformation of the country’s economy would cause, with the immediate flight of this capital and of nationals abroad.”

“Although the law was approved, its regulation was flawed. Committees and subcommittees managed to establish the regulation after a year, on June 9, 1921.”

“But there were so many regulatory complications, so much rejection of the true productive forces, that the law was suspended.”