Tuesday, 2 April 2013

Dolce & Gabbana Fined for Tax Evasion

Fashion designers Domenico Dolce and Stefano Gabbana have been fined €343.4 million (plus interest) by Italy’s Tax Commission for tax evasion. The designers were charged with avoiding taxes of €416 million after the sale of the Dolce & Gabbana and D&G brands in 2004 to Luxembourg-based Gado Srl, a company that the Italian authorities believe was chosen to evade Italy’s higher taxes. Dolce and Gabbana were originally cleared of the claims by a lower court in April 2011, but the decision was overturned by the Italian Supreme Court in November 2011. Both designers refute the claims.

Domenico Dolce and Stefano Gabbana

No comments:

Post a Comment

Note: only a member of this blog may post a comment.