French luxury goods group Kering said on Thursday it had agreed to pay 1.25 bill...
FILE PHOTO: People looks at the Gucci's flagship store window in Montenapoleone street downtown Milan, Italy December 8, 2017. REUTERS/Stefano Rellandini/File Photo
The settlement, first reported by Reuters last month, is the highest ever agreed by a company with Italian tax authorities. The company said under the settlement it would face an additional tax charge of 600 million euros in its 2019 financial accounts. The allegations centered on Gucci, which Italian tax authorities accused of evading taxes on more than 1 billion euros in revenues over several years. Gucci offices in Milan and Florence were raided by Italian police in late 2017.
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