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The National Financial Prosecutor’s Office<\/strong> (PNF) has closed the investigation opened in 2019 for tax fraud laundering<\/strong> targeting the luxury group Kering<\/strong>. The classification without action of the procedure dates back to May 2021, the PNF said to AFP.<\/p>\n <\/p>\n In 2020, the group defended itself: “Kering contests with the utmost firmness the allegations of laundering of tax fraud totally unfounded as reported in the article of Mediapart<\/em>” .<\/p>\n <\/p>\n The existence of this investigation opened in February 2019 had been revealed in December 2020 and aimed, according to Mediapart<\/strong><\/em>, the French part of a tax scheme that would have allowed Kering to declare in Switzerland activities conducted in other countries<\/strong>, including Italy<\/strong>. The group would have evaded “2.5 billion euros in taxes between 2010 and 2017, including at least 180 million in France<\/em>” according to Mediapart<\/strong><\/em>.<\/p>\n <\/p>\n The European Investigative Collaborations<\/strong> and the Italian newspaper Il Fatto Quotidiano<\/strong><\/em> claim that the dismissal of the criminal proceedings followed a tax adjustment in 2020 of nearly 210 million euros for the brands Balenciaga and Saint-Laurent.\u00a0<\/strong>Kering confirmed that the tax reassessment had been “closed<\/em>” , without specifying the amount spent.<\/p>\n <\/p>\n In Italy, in 2019, Kering faced a record tax reassessment of 1.25 billion euros for the part concerning Gucci<\/strong>, at the end of an investigation by the Milan public prosecutor’s office begun in late 2017. The Milan prosecutor’s office had then estimated that Kering had invoiced on behalf of its Swiss subsidiary Luxury Goods International<\/strong> (LGI), its logistics platform located in Lugano, Switzerland, for activities actually carried out in Italy in order to reduce its taxes.<\/p>\n <\/p>\n <\/p>\n Read also >\u00a0KERING LAUNCHES ITS SECOND ROUND OF SHARE BUYBACKS<\/a><\/p>\n <\/p>\n Featured photo : \u00a9 Charles Platiau[\/vc_column_text][\/vc_column][\/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]<\/p>\n <\/p>\n <\/p>\n The National Financial Prosecutor’s Office<\/strong> (PNF) has closed the investigation opened in 2019 for tax fraud laundering<\/strong> targeting the luxury group Kering<\/strong>. The classification without action of the procedure dates back to May 2021, the PNF said to AFP.<\/p>\n <\/p>\n In 2020, the group defended itself: “Kering contests with the utmost firmness the allegations of laundering of tax fraud totally unfounded as reported in the article of Mediapart<\/em>” .<\/p>\n <\/p>\n […][\/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…<\/p>\n<\/h4>\n
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In 2019, Kering was accused of tax fraud, but today the National Financial Prosecutor’s Office filed the investigation without action.<\/h4>\n