738
ITALY
fortieths of the income ; in the case of industrial and commercial incomes, it is twenty-fortieths ; for life annuities and incomes from labour alone (professions) it is eighteen- fortieths ; for incomes of State, provincial and communal employees it is fifteen-fortieths. The communes and provinces also tax lands and buildings. The State grants to the communes one-tenth of the proceeds of the tax on incomes as compensation for other communal re- venues made over to the State by various laws.
The principal indirect taxes are : — the customs duties, the octroi, the taxes on manufactures, the salt and tobacco monopolies, lotto.
The financial year of Italy ends on June 30. The following table exhibits the total ordinary revenue and expenditure of the Kingdom, together with the annual difference in each of the last seven years, the budget estimates being given for the last two years : —
Tears
Total Eevenue
Total Expenditure
Difference
Lire
Lire
Lire
1892-93
1,748,429,655
1,739,085,890
+ 9,343,765
1893-94
1,853,294,087
1,912,149,991
- 58,855,904
1894-95
1,807,372,533
1,806,963,455
-1- 409,078
1895-96
1,839,753,509
1,841,386,659
+ 1,633,150
1896-97
1,745,497,676
1,745,370,744
+ 126,932
1897-98
1,699,659,117
1.692,234,369
+ 7,424,748
1898-99
1,696,791,355
1.686,793,409
+ 9,997,946 '
The following table shows for the year ending June 30, 1899, the estimated revenue and expenditure : —
Revenue
Revenue — cont.
Lire
Lire
A.. Ordinary revenue : —
Taxes on transactions
1st Category : ^
Succession duties
37,500,000
State property
12.481,835
Registration
58,000,000
State railways
79,932,200
Stamps
67,900,000
Various
1,455,612
Raihvay tax
19,800,000
Various
32,925,000
Direct taxes :
Indirect taxes :
Land tax ,
306,750,000
Excise
48,000,000
House tax .
88,600,000
Customs .
246,000,000
Income tax
286,249,000
Octrois Tobacco (mono-
51,865,000
poly)
188,250,000
1 The revenue and the expenditure of each Ministry are divided into four categories :— 1. Effective receipts or expenditure ; 2. Construction of railways, (fee. ; 3. Movement of capital ; i. Receipts or expenditure d'ordre.
