The Two Brothers Of Bvlgari (Bulgari) Defend Themselves Against Tax Evasion.

The heir of Italy's famous jewellery brand Bvlgari (Bulgari), the fifth generation of descendants Nicola (below left) and Paolo (the right picture below) were accused of tax evasion for 2006-2010 years.

Recently, the first trial session, two brothers appeared in court and defended, denying the alleged crime.

Bruno Assumma, the defense lawyer of Bvlgari's two brothers, told Reuters: "they are innocent because there is no fraud.

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In 2013, the Italy tax police froze Bvlgari's 46 million euro assets, including two property, life insurance and investment in Rome, on similar grounds.

In February 2014, Bvlgari reached a settlement agreement with the domestic tax authorities in Italy. Although Bvlgari insisted that it did not commit any illegal activities, it agreed to pay a heavy fine in Italy's tax authorities. Although the settlement agreement reached between the two sides amounted to 28 million euros, additional taxes, interest and other fines amounted to 42 million euros.

Bvlgari's troubles have not ended, and now it faces another round of accusations: the focus of the judicial investigation is Bvlgari's subsidiary in Ireland, where prosecutors accused Bvlgari of making unprofitable gains from the lower Irish company's business tax.

And the lawyer

It said that Bvlgari Irish subsidiary was in normal operation under the leadership of the group (rather than a tax avoidance shell company).

It is reported that the first instance will be heard in October 13th.

The two accused of tax evasion occurred in LVMH acquisition.

Before.

In March 2011, France's first luxury group LVMH acquired Bvlgari's Listed Companies in 3 billion 700 million euros by way of share swap, and Nicola and Paolo jointly owned LVMH2.4%'s shares, becoming the second largest shareholder after LVMH.

With the deep economic recession brought about by the debt crisis in the euro area and the tightening of public finances, the Italy government has intensified its efforts to combat tax evasion.

Italy's family luxury business has always been the focus of tax inspection. Armani also had similar allegations, but it was later cancelled. The co founder of Dolce&Gabbana was sentenced to prison for tax evasion, and finally acquitted, while the trial of MatteoMarzotto, former president of Valentino brand, is under way.