ABSTRACT
Out of all European Member States, the economic history of Italy over the last few decades has certainly been the most affected by the complex ups and downs of the fiscal system. This does not go unnoticed by eminent national (Pedone, various years) and international observers (Tanzi 1996). In 1972 the tax system was completely reformed to make it suitable to the new economic environment of a developed industrial country. The initial stages of reform were not at all easy. The lack of expected revenues gave rise to the ensuing long saga of Italian budget deficit and debt. But during the 1990s four points of increase in fiscal pressure were crucial to fulfill Maastricht requirements.
