Earlier on my blog i wrote in details about the tax fraud probe against Dolce and Gabbana brand and designers and you can read it Here.
Since 2008 this issue has been under investigation and this case is more serious than any other specially that, like the Times put it " [in Italy] tax evasion is regarded by many people, including in the fashion world, as a national sport" except that D & G turned on the law on purpose.
The Times reports: "What sets this case apart is that the designers stand accused of fraud. Papers filed by prosecutors in a Milan court allege a “criminal design” to defraud the state. Prosecutors contend that the Italian revenue service was duped out of taxes on the sale of the brands, which they claim were sold well below market value, and on the income from royalties, which were taxed in Luxembourg at a much lower rate than they would have been in Italy. The brands were sold for €360 million, or $508 million — an amount that investigators say was just under a third of their actual value, according to their own calculations." ( nytimes.com )
Dunno what am i supposed to say to end this post, good luck Domenico and Stefano or what exactly, the 2 designers have been accused of defrauding the state creating their virtual company in Luxembourg and not declaring the real income they are making via this company. D. Dolce and S. Gabbana have been charged as well as 3 company executives and also their tax advisor... Shame
I dunno what have happened to the world of fashion lately but i believe it is cleaner and healthier than just money for many other designers (or at least i hope).
Xxx,
S.
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