Fashion house faces hefty fine
Source: AFP |
April 2, 2013, Tuesday
|
Print Edition
Print Edition
AN Italian court has ordered the Dolce & Gabbana fashion house to pay a fine of 343 million euros plus interest for failing to declare millions of euros in revenue to tax authorities, local media reported.
The international fashion giant, whose celebrity clients include Beyonce and Madonna, plans to appeal the verdict and the payment of any fine would be suspended pending the appeal, reports said.
The fashion house was found to have "violated legislation with the sole objective of procuring a fiscal advantage," according to the ADN Kronos agency which quoted the verdict.
Domenico Dolce and Stefano Gabbana were accused of having transferred control of their brands to a shell company in Luxembourg in 2004 and 2005, thereby avoiding paying Italian taxes of around 420 million euros (US$550 million).
Prosecutors have argued that setting up the Luxembourg company Gado, an acronym of the surnames of the two designers, while the company was still operating out of Italy, was an attempt to defraud the state. The pair have repeatedly denied the accusations.
"All that I care about is making clothes, that's all. Let them do and say whatever they want," Gabbana said in a tweet after the verdict.
The international fashion giant, whose celebrity clients include Beyonce and Madonna, plans to appeal the verdict and the payment of any fine would be suspended pending the appeal, reports said.
The fashion house was found to have "violated legislation with the sole objective of procuring a fiscal advantage," according to the ADN Kronos agency which quoted the verdict.
Domenico Dolce and Stefano Gabbana were accused of having transferred control of their brands to a shell company in Luxembourg in 2004 and 2005, thereby avoiding paying Italian taxes of around 420 million euros (US$550 million).
Prosecutors have argued that setting up the Luxembourg company Gado, an acronym of the surnames of the two designers, while the company was still operating out of Italy, was an attempt to defraud the state. The pair have repeatedly denied the accusations.
"All that I care about is making clothes, that's all. Let them do and say whatever they want," Gabbana said in a tweet after the verdict.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
