CT&P CAPONE | TICOZZI | PARTNERS ASSISTS SME IN CASE INVOLVING ALLEGED EVASION IN RELATION TO 7 MILLION IN TAXABLE INCOME

Milan, 27 March 2019 – CT&P Capone |Ticozzi | Partners assisted a Lombardy-based SME, which also operates abroad, in relation to action taken by the Italian Revenue Agency following an audit by the Italian Finance Police that resulted in allegations of offshoring and alleged tax evasion in relation to 7 million euro in taxable income. Thanks to the work of the professionals at CT&P, the action was settled with an agreement (that was accepted) with the Revenue Agency, who reduced the tax liability to approximately EUR 70,000 in tax.

The professional partners from CT&P’s dispute team who defended the company are Federico Sambolino and Alessandro Borsetto, together with tax lawyer Alessandro Dagnino, a partner at Lexia Avvocati.

The events began in 2015 when, following an audit at the offices of the company in question, the Finance Police raised questions regarding alleged offshoring to an associated Swiss company, generating significant interest among the media and beyond.

“It is becoming increasingly common that the Italian Finance Police or Italian Revenue Agency carry out tax audits on Italian companies that operate abroad, raising questions regarding alleged offshoring. Very often, in such cases, the assessment authorities simply challenge the inflow of revenue from foreign companies into Italy, without also considering the relevant costs, submitting investigation findings reports that allege tax evasion involving clearly disproportionate amounts”, Alessandro Borsetto notes.

“It’s a short step to trial by media, and we often hear about alleged evaders being exposed even when, as in this case, the parties in question are honest business people with no intention of evading taxes, but who are simply caught up in the complex tax issues surrounding corporate offshoring – a tax situation according to which a company formally resident abroad is considered fiscally resident in Italy based on certain more or less valid presumptions – the governance of which involves significant areas of uncertainty, with the potential consequent application of highly onerous administrative sanctions and even criminal implications” Federico Sambolino concludes.

IN THE PRESS

Legalcommunity – CT&P assiste una PMI in un procedimento per presunta evasione da 7 mln di imponibile