Gucci owner Kering to pay record fine: reports
The owner of Italian fashion giant Gucci is set to pay a record fine of nearly 1.5 billion euros ($1.7 billion) in a tax evasion case, according to media reports Friday.
“Lawyers are still negotiating with the tax authorities over a few hundred million euros, but the fine that the (French luxury) Kering group is about to pay is the highest (in Italy),” the La Stampa newspaper said.
“It’s a cheque for nearly 1.5 billion euros,” it added.
ALSO READ : NYSC Diary: From Kingston University to Iyana-Ipaja, once I got to the camp, look around, I started planning my escape route
It follows a probe by Milan’s public prosecutor into the fashion house on suspicion of declaring several years worth of Italian sales in Switzerland, thereby saving around 1.3 billion euros in domestic tax.
Kering is expected to sign an agreement on the amount due on May 2, according to the financial newspaper Il Sole 24 Ore.
“At this stage, no agreement has been reached on any specific amount,” the French group told AFP.
Post Views: 75
You may be interested
“My Girlfriend Wants Us To Marry By January 2021, But My Salary Is N45,000 “– Man Seeks AdviceWebby - October 31, 2020
File photo A man is in need of help after his girlfriend made an unusual request without considering his lean…
Revealed: How Nigerian Army Secretly Moved 20 Lekki Massacre Victims To IDH MortuaryWebby - October 31, 2020
The Nigerian army has reportedly moved the bodies of the victims of Lekki toll gate shooting to a different location.…
BREAKING: CAF President Ahmad Tests Positive For COVID-19Webby - October 31, 2020
Mr Ahmad Ahmad Mr Ahmad Ahmad, the President of the Confederation of African Football, has contracted the COVID-19.This was contained…