Prada Group Causes Tax Notice In Italy

According to people familiar with the matter, last Friday revealed that Italy is famous. Luxury goods Patrizio Bertelli, the chief executive of Prada group (Prada), and Miuccia Prada, chairman of the board of directors of the company, are being investigated by the tax authorities in Italy. Recently, a number of well-known enterprises have been investigated by the tax authorities in Italy. Prada holdings is the latest example. As the economic crisis led to a sharp decrease in Italy's revenue, the authorities intensified their investigation of tax evasion.

The Miuccia Prada couple denied that she was being investigated by the Italy tax authorities. Miuccia Prada and Patrizio Bertelli, a lawyer representing Stefano Simontacchi and Guido Alleva, issued a statement later that "as far as we know, no one is being investigated at this time." The person who sent the message to WWD also revealed that neither MiucciaPrada nor Patrizio Bertelli, nor any member of the group, received any notice to request the investigation.

Event:

Prada Prada issued a statement last December 20th, saying that it had reached an agreement with the Italy tax authorities in 2008 that it would pay all the tax amounts assumed by the holding company in Italy in the past ten fiscal years, and has completed the voluntary disclosure procedures of its Luxemburg holding company and its relevant holding companies and beneficial owners, ensuring that taxes on Prada and related holding companies and Affiliated Companies will be mainly handed over to the Italy tax authorities. Prada also promised to move its holding company to Italy in due course.

It was this agreement that attracted the attention of the prosecutors in Italy. After receiving the announcement from the Italy tax authorities, they launched a survey of Prada several days ago. Italy Evening Post said the respondents included Miuccia Prada, chairman of the board of directors of Prada, chief executive officer Patrizio Bertelli and two managers including group accounting Marco Salomoni, who were accused of evasion of 470 million euros. Stefano Simontacchi and Guido Alleva also pointed out: "in any case, the new provisions of voluntary disclosure (agreement) should apply to this case," Prada No violation of the law.

Other Italian company include Dolce&Gabbana In recent years, it has also been subject to strict tax law investigation by the state. The Italy government hopes to adopt a law to promote financial penalties resulting from voluntary disclosure rather than punitive consequences. At that time, Italy designers Domenico Dolce and Stefano Gabbana were sentenced to 20 months' imprisonment for tax evasion by millions of euros.