Gucci parent company to pay €1.25 billion to settle Italy tax dispute

Posted by Aktis Team on 9 May 2019

Italian tax authorities have reached an agreement with French luxury goods group Kering to settle a tax evasion case connected to Gucci. The investigation revealed that the company's was shifting its profits to Kering's Swiss-based subsidiary Luxury Goods International to avoid paying taxes in Italy. The company has denied avoiding taxes, but has agreed to pay a record €1.25bn.

Financial Times, Harriet Agnew, May 9th 2019

Reuters, Emilio Parodi, Sarah White, May 9th 2019

Topics: News Watch, Europe