Friday 1 April 2011

Meet Dolce&Gabbana - Pre&Post

Here is the case: Dolce&Gabbana charged of tax avoidance of 840 millions € to be exact or let's say 1 billions if you're lazy.

Founded in 1985, D&G counts over 3000 employees, 119 boutiques and 17 factories channels in 2009 according to its website.

First, to understand all of this, let's go back in time!

25th March, the judge of the preliminary hearing in Milan, Simone Luerti announces he will take a decision starting on the 1st April 2011 according to the referral bill of the two designers who counts amongst the richest person in Italy.



Source: forzaitalia.tchatcheblog.com

1st April's hearing will deal with the arguments of the attorneys of the two stylist and of 5 other people (including Dolce's brother Alfonso and three other senior members of the company who all denied the charges as well) charged in this case. Then on the same day, the judge will take a decision.

D&G will face up to 5 years in jail if sent for trial and pay more than $1 billion in unpaid taxes and fines!

Why?
The claim is actually that Dolce&Gabbana made a company in Luxembourg in 2004 which was given power of the fashion group's brands, thereby evading high corporate taxes in Italy. However the Luxembourg holding company, Gado, was in reality operated from Italy!
Boo Liars!

Italy has been actually breaking behind on extensive tax evasion in latest months in an attempt to increase government revenues following the financial crisis that has finally touches every country.
Here they are! Smiling at their victory!
Source:lowefactor.co
And what about the media?
Of course, the affair is potentially highly embarrassing for 52 yo, Domenico Dolce, & 48yo Stefano Gabbana, a duo whose sexy, baroque, often gilded designs have won the admiration and loyalty of celebrities including Victoria Beckham or Vic for her friends (not Posh), Madonna and Kylie.

Dagospia
, a website that is quite similar to Private Eye,a satirical and current affairs magazine in Great Britain, republished the "scoop" asking: "How many will dare to pick up on this news?". Good Question!
Well, the answer is that there were basically only two "low-circulation leftwing dailies" and a few blogs that mentioned it.

 "I expected the news ... to have caused uproar," claimed a reader of Italian daily newspaper, Il Giornale.
Who agree with him? I do!
Looks like, tax evasion has become a casual thing!

But as Mr.Berlusconi said few years ago : "There are only idiots who pays their taxes"
Not bad for someone who has also been accused of tax avoidance!

And then cames the judgement day, 1st April
Result ⇝ The investigation has been been closed by the
the judge of the preliminary hearing in Milan due to lack of evidence!

"It's an absurd demand based on a completely abstract calculation." said the two famous designers who have always denied the claim.

So if you are a D&G fan, you no longer have to worry for them, that was just an "absurd" story!
Anyway...I guess this case won't affects it IT bag' sales!
Anyone wants a Miss Sicily?



 

Besides, that must have been a really expensive video to make!


Sources: The guardian - Le journal des finances -Le Figaro -fashion.telegraph.co.uk

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