Business and Economics

Prada executives suspected of tax evasion

Fashion designer and head of one of the most famous fashion houses not only in Italy, but around the world, Miuccia Prada is accused by tax authorities of tax evasion, the American tabloid The Daily Mail claims.

However, official comments and statements from the granddaughter of the founder of the fashionable empire and the tax inspectorate of Italy have not yet been received, and the spokeswoman for Prada even claims that he did not hear anything about such problems of the company.

  • Read also: Prada brand story

The media, referring to reliable sources, claim that Miuccia Prada withdrew about $ 400 million by transferring a certain amount of assets abroad, namely to Amsterdam and Luxembourg. Accusations of tax evasion will be brought not only to the head of the legendary company, but also to her husband Patrizio Bertelli, who is also the executive director of Prada, as well as the chief accountant of the fashion empire, Marco Solomoni.

Earlier, the world-famous manufacturer of fashionable clothes and accessories completed a profit statement, disclosing all tax data, after which Miuccia promised that all the company's assets would be transferred to Italy. The fashion house paid more than 400 million euros to the tax inspectorate of the country to settle all matters and nuances.

However, this did not save the leaders of Prada: they nevertheless fell under investigation. The investigation against the head of the famous brand and her husband began only a few days ago, when an anonymous source contacted the tax service of Italy in order to reveal the whole truth.

Prada Fashion House is far from the first Italian company in this industry to face similar problems.

So, last year, the Italian tax service brought charges against the heads of another fashion giant - Dolce & Gabbana - Stefano Gabbana (Stefano Gabbana) and Domenico Dolce (Domenico Dolce).

Soon, the court ruled that the owners of one of the most influential brands of fashionable clothes evaded taxes and hid about one billion euros from the state treasury. Both designers were sentenced to almost two years in prison, and also to pay a fabulously huge fine.

The case of Dolce and Gabbana began about ten years ago, and since then it has been repeatedly suspended and closed. And only last year, the tax authorities once again carefully checked the documentation of the fashion empire and found that enterprising designers sold their two brands that are part of the company’s concern to some dummy company that was registered in taxpayer paradise - in Luxembourg. Moreover, the transaction amount seemed incredibly small to the tax service, which aroused suspicion.

Nevertheless, experts say that lovers of the fashion house did not react in any way to the litigation, in which well-known designers were involved.

The company did not suffer significant losses, which suggests that problems with the tax service will not affect the well-being of Prada.

Many buyers are well aware that large companies often evade taxes, so they do not attach much attention to such scandals.

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