Bvlgari is in deep tax doo doo with the Guardia di Finanza!
Italy’s equivalent to the IRS claims the jewelry and handbag maker failed to pony up more than $6 BILLION in taxes between 2006-2011 and in light of some inneresting documents, a judge ruled the seizure of stores, other real estate, life insurance policies and investments of the execs.
While the label is “confident” these allegations are false, the authorities say they have a nine page “escape strategy” which outlines how the company was running money through their Ireland, Switzerland and the Netherlands branches because taxes are cheaper.
Obviously!
Back in December, Bvlgari was also accused of owing $91 million for a $6 billion deal they did, so it seems like the law has had their eye on them for awhile.
Luckily for them, the Guardia di Finanza has been coming down on a lot of labels, and with the exception of Dolce & Gabbana, the cases are usually dropped.
Hopefully companies learn to just pay their taxes, or at least be smarter about them!
[Image via Mavrix Online.]
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