Tax evasion is estimated to cost Italy about 120 billion euros in lost revenues each year.
With the country's mammoth debt at 1.9 trillion euros the Monti-led government has opted to turn the screw on Italy's tax evaders.
Between January and April this year, the Tax Police has announced it found revenue tax evasions amounting to four billion euros.
These four billion euros evaded, add up to the six billion already detected in the same months, as a result of an investigation on over 1,000 total tax evaders.
In the meantime an association of artisans and small businessmen has warned that 32 entrepreneurs have already committed suicide since the beginning of 2012, mostly due to the economic crisis.
On Thursday, a heavily indebted small businessman stormed into a tax-office not far from Milan with a rifle and two handguns after reportedly receiving a tax demand. He took six staff hostage and threatened to commit suicide. After six hours the businessman was persuaded to turn himself in. Some Italian media have reported that his actions have met with some public sympathy amid the economic crisis that has led to a wave of suicides in past months.
The number of financially-motivated suicides in Italy is growing rapidly under the pressure of the ongoing crisis.
Measures by the government to assist Italians ride out economic and financial difficulties are needed as soon as possible.