Moncler issued a statement on Friday that it has signed an agreement with the Italy tax bureau to formally join the cooperation system of the Italy tax authorities. The first batch of Italy luxury brands to join the system include Salvatore Ferragamo, Brunello Cucinelli and Luxottica, and Prada. It is reported that after the agreement with the Italy Tax Bureau on the transfer pricing problem, Moncler will pay 14 million 500 thousand euros in taxes this year, 7% less than last year.
It is understood that the cooperation of compliance system is based on the international best practices into the laws of Italy, and promote the sustained dialogue between the company and the Italy tax authorities to establish systematic based on mutual trust and cooperation, transparency, in order to make preventive assessment of the most relevant to the company’s transactions, so as to enhance the group to determine the degree of tax matters.
It is worth mentioning that, in 2014, the chairman of the Prada Miuccia Prada, chief executive of Patrizio Bertelli and Marco Salomoni in charge of accounting, assets will be transferred to the suspected of tax evasion and tax havens means Holland Luxemburg accept the Italy authorities estimate investigation, involving a total amount of 390 million pounds. Italy prosecutors confirmed in September 2014 that Italy tax department investigated the accuracy of the past tax declaration on Miuccia Prada and Patrizio Bertelli, but stressed that Prada group and its subsidiaries were not implicated in the case.