Chapter closed. Bulgari puts an end to the dispute with the Revenue Agency. And after the rumors about the amount disbursed, the Group announces facts and numbers with a press release.
“The Bulgari Group – we read – defined its position with the Revenue Agency. Thanks to the production of a conspicuous documentation, the Revenue Agency has recognized the effective existence and real operation of the foreign companies and has therefore declared three of the four objections raised following a tax audit to be completely unfounded. The only dispute left - adds the press release - concerns some corporate reorganization operations carried out in the period 2006-2008. In this regard, the Agenzia delle Entrate contested only part of the transactions criticized following the outcome of the tax audit and with different factual and legal assumptions. In particular, the Revenue Agency has not found any artificial or false accounting and, while adopting a different interpretation of the legislation from that of the Group, has recognized that at the time of the disputed transactions the legislation was difficult and uncertain to apply" .
"The Bulgari Group, which continues to remain convinced of its correctness - adds the company - has decided to settle the dispute with the payment of 28 million in taxes plus interest and penalties for a total of approximately 42 million, thus avoiding a long and costly litigation on an objectively uncertain interpretative issue. The Bulgari Group is confident that the documentary evidence acquired in the administrative sphere will contribute to the positive outcome of the pending criminal proceedings and to the recognition of the fact that no crime has ever been committed. The Bulgari Group - concludes the note - also specifies that, contrary to what is reported by some newspapers, the shop in via Condotti has never been subject to seizure".
