Kering can stomach Gucci’s tax blow in Italy LJucca
Kering said on May 9 it had agreed to pay 1.25 billion euros to settle a tax dispute in Italy.
Italian authorities in 2017 opened a tax investigation into Gucci. In a tax audit report delivered in January, Italy accused Kering’s Swiss subsidiary Luxury Goods International of conducting business activities over 2011-2017 in Italy that should have resulted in the payment of additional taxes. Italy’s tax authorities have been aggressively pursuing companies that failed to declare taxes in Italy.
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