Agnellis to pay greater than $1 billion for Italy tax claims

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The billionaire Agnelli household’s corporations agreed to pay 949 million euros ($1.08 billion) to settle an investigation by the Italian Tax Company.

Exor SpA, which controls Ferrari and is Stellantis‘ greatest shareholder, agreed to pay 746 million euros for so-called exit tax claims referring to its 2016 merger with its Dutch subsidiary, Exor Holding NV, according to a statement.

“The settlement settlement doesn’t and shouldn’t be interpreted as a recognition, and even partial acceptance by Exor of the following interpretations superior by the Italian Tax Authorities,” the corporate mentioned.

The assertion added that Exor “stays satisfied that it acted in accordance with the principles.”

Individually, the Giovanni Agnelli B.V. holding firm agreed to pay 203 million euros referring to the identical exit tax.

The Agnelli household holding owns 52 % of Exor, in accordance with Bloomberg knowledge.

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