Berlusconi Backs EU4 Billion Tax Refund Pledge With His Fortune

Former Italian Prime Minister Silvio Berlusconi said he would pay a promised 4 billion-euro ($5.3 billion) tax refund out of his own pocket if elected in a Feb. 24-25 vote.

“By May, that sum will be returned to those who paid,” Berlusconi said today on Rai television. “My signature means that with that letter, anyone who paid the IMU can go to the judge and ask me to return the money. If as prime minister I haven’t done what I promised to do. Beyond that, I’ll take 4 billion euros of my fortune and I’ll give it to Italians. How can you come up with a proposal more serious than that one.”

Berlusconi’s net worth is at least $6.5 billion, according to the Bloomberg Billionaires Index.

To contact the reporter on this story: Andrew Frye in Rome at afrye@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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