Kering collaborates with police on tax probe

Published:  30 April, 2018

Francois-Henri Pinault, Chairman and CEO, Kering, told shareholders on April 26 the Group continues to collaborate with the Italian police on the alleged tax evasion relating to Gucci’s activities in Switzerland.

Pinault said Kering was “totally compliant with fiscal regulations in every country” in which it operates, and that its activities in Switzerland were known to relevant authorities. He also pointed out that “neither Gucci nor Kering had been notified by Italian authorities of what slice of revenues were being examined for irregularities”.

As previously reported by ILM, Kering’s Gucci allegedly declared in Switzerland activities carried out in Italy over several years, hence, saving an estimated €1.3 billion in Italian tax. More recently, the Swiss Attorney General Office confirmed it had received and executed a request for mutual legal assistance from the Milan Public Prosecutor's Office in Italy.

Source: Reuters