"Sardex, an Italian fintech, created a mutual credit system where businesses exchange goods and services without cash.
This trust-based network has strengthened the local economy and inspired similar models across Italy."
📰 https://positivenewsfoundation.org/video/italys-fintech-innovation-transforming-business-with-sardex/ 📺 https://youtu.be/eeB2tsS6xpM
Does your revenue service have a way of monitoring this or would they have to verify each case manually? This is an obfuscation mechanism.
Are they checking if their business partners are on sanctions lists, as required by law? How many people at Sardex are hired and accountable for compliance with anti-money laundering and counter-terrorism financing regulations?
I’m not asking who’s collecting taxes but who’s making sure they’re paying taxes. In EU and most of the civilised world banks would be liable if they were aware or didn’t do enough due diligence to spot that.
This is not a bias against Italy, it’s a bias against businessmen. This happening in Sicily just makes for a funnier context.
Alright, you keep not reading the article (it clearly says that every transaction has to emit both a fattura and a scontrino). And it’s not “my”(nor “ours”, i’m not involved) service.
The fact that you confuse Sardegna with Sicilia shows even more that you think you know more than you actually do.
To be clear, I don’t think that’s it’s safe from every abuse but as i said for the businesses here it’s much easier to just use cash rather than trying to use digital money.
Sorry but really you are making this conversation less a conversation and more a ‘‘i am right and you have to show me i’m wrong’’; hence i’ll stop answering.
The article is very light on real details despite what you claim. I work in AML adjacent field and I can’t help but see that we would politely decline to do business with company that transacts this way.