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Thread: Dolce & Gabbana Sentenced To Jail For Tax Evasion

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    Elite Member Chilly Willy's Avatar
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    Default Dolce & Gabbana Sentenced To Jail For Tax Evasion

    19 June 2013 Last updated at 15:21 GMT


    Dolce and Gabbana sentenced to jail for tax evasion



    The designers denied all the charges against them

    Italian fashion designers Domenico Dolce and Stefano Gabbana have been sentenced to jail in Italy for one year and eight months for tax evasion.
    The pair were not at the trial and deny the charges.
    They are accused of hiding millions of euros from Italian tax authorities.
    Dolce and Gabbana have not yet given a public comment on the sentence and are likely to appeal the verdict. They are said to be unlikely to go to jail any time soon.
    Their customers have included Madonna, Kylie Minogue, Kate Moss and Bryan Ferry.
    The investigation by the Italian authorities began around six years ago as part of a government plan to crack down on tax avoidance.
    At the hearing on Wednesday, the judge ruled that the designers moved their brand to a Luxembourg-based holding company Gado in 2004.
    He said they had done this to avoid declaring taxes on royalties of around 1 billion euros (833m; $1.3bn).
    Prosecutors alleged they sold the business for well below actual market value.
    They were initially cleared of the charges at a previous trial in April 2011 but Italy's highest court overturned that ruling, ordering that the case should be sent back.

    BBC News - Dolce and Gabbana sentenced to jail for tax evasion
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    Elite Member sputnik's Avatar
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    what the fuck is it with italy's high court overturning every verdict that doesn't go their way?
    not that i support tax evasion but there's something incredibly fucked up about the court system in italy.
    I'm open to everything. When you start to criticise the times you live in, your time is over. - Karl Lagerfeld

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    Elite Member mtlebay's Avatar
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    Default Dolce and Gabbana sentenced to jail

    Italian fashion designers Domenico Dolce and Stefano Gabbana have been sentenced to jail in Italy for one year and eight months for tax evasion. The designers denied all the charges against them

    They were accused of hiding millions of euros from Italian tax authorities.

    The pair, whose customers have included Madonna, Kate Moss and Kylie Minogue, were not at the trial, deny the charges and have appealed.

    Dolce and Gabbana have not commented on their sentences, which have been suspended pending their appeal.

    The investigation by the Italian authorities began around six years ago as part of a government plan to crack down on tax avoidance.

    At the hearing on Wednesday, the judge ruled that the designers moved their brand to a Luxembourg-based holding company Gado - an anagram of their two surnames - in 2004.

    He said they had done this to avoid declaring taxes on royalties of around 1 billion euros (833m; $1.3bn).

    Prosecutors alleged they sold the business for well below actual market value.

    They were initially cleared of the charges at a previous trial in April 2011 but Italy's highest court overturned that ruling, ordering that the case should be sent back.



    BBC News - Dolce and Gabbana sentenced to jail for tax evasion

    I never understood why all these rich folk try to hide from the tax man, when:

    -they're ultra rich and have the money to pay and
    -they'll eventually be caught by Mr. Tax.

    Can someone please explain their logic??
    Go Habs Go!!

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    Elite Member Brookie's Avatar
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    Sometimes, being rich means being greedy too. Ask Wesley Snipes, ask Martha Stewart. "How can I get even richer, no matter what I have to do to get there?"
    mtlebay likes this.
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    Hit By Ban Bus! rockchick's Avatar
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    idiots.

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    Elite Member sputnik's Avatar
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    i believe this was already posted, perhaps mods can merge the threads?
    I'm open to everything. When you start to criticise the times you live in, your time is over. - Karl Lagerfeld

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    Will stripes and jumpsuits be hot this year?

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    You can get away with anything in this world. Except not rendering unto Caesar.
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    Elite Member mtlebay's Avatar
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    ^^ LOL..

    and I did a search before I posted and even now, but the other thread still didn't appear. However, as I check through 'Latest Gossip', I see it. Yes mods, if you can merge or even delete this thread it;s fine by me.
    Go Habs Go!!

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    Elite Member rollo's Avatar
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    Default Dolce and Gabbana convicted of tax evasion in Italy

    Fashion designers Dolce and Gabbana jailed for 20 months after being convicted for 850million tax evasion

    • Famous designers found guilty of failing to declare 850m in income tax
    • Italian court heard that they used a Luxembourg company to avoid tax
    • Judge sentenced both to 20 months in jail - suspended pending appeal

    By Daily Mail Reporter
    PUBLISHED: 17:04, 19 June 2013 | UPDATED: 19:48, 19 June 2013

    Domenico Dolce and Stefano Gabbana were today convicted of tax evasion and sentenced to 20 months in prison.
    The fashion designers were found guilty at a court in Milan, Italy, of failing to declare 850million ($1.34billion) in income tax to authorities.
    Prosecutors argued that the pair had evaded taxes on income of 356million ($558million) each and 172million ($268million) through a Luxembourg-based company.
    Domenico Dolce and Stefano Gabbana each sentenced to one year, eight months in jail by an Italian judge for failing to declare 850million ($1.34billion) in income tax


    The statute of limitations had run out on a charge of misrepresenting income. The designers had denied the charges - and their sentences were suspended pending an appeal.

    Two years ago, a judge threw out a tax evasion and fraud case against the pair, whose label Dolce&Gabbana is a Milan fashion mainstay.

    Italy's high court in November ruled, however, the designers could be prosecuted for tax evasion - though not for fraud.
    A case against the Italian designers, whose A-list fans include Madonna, Beyonce and Angelina Jolie, was looked into in detail by the Italian Supreme Court.


    Dolce and Gabbana sentenced to jail in tax fraud








    Sentence: Dolce and Gabbana's lawyer Massimo Di Noia answers reporters' questions after the sentence of 20 months in jail at the Milan court today


    Prosecutors Laura Pedio and Gaetano Ruta exchanged a glance prior to the sentence. The Milan court convicted fashion designers Domenico Dolce and Stefano Gabbana of tax evasion



    This followed efforts to clamp down on tax avoidance in Italy, as experts revealed that an estimated 96billion ($150billion) a year was lost in undeclared revenues.

    The investigation found that Mr Dolce, 54, and Mr Gabbana, 50, sold their Milan-based labels to their own holding company, Gado srl, which is based in Luxemburg - a notorious tax haven.

    Prosecutors said at the time that both the Dolce & Gabbana and D&G brands were sold for just 309million ($483million), about one-third of their true market value, which was decreed a further attempt to avoid paying millions in taxes.

    A-list endorsement: Actress Scarlett Johansson is one of the celebrity faces of Dolce & Gabbana



    Longtime brand: Domenico Dolce and Stefano Gabbana went into business 28 years ago


    As a result the two designers, who founded their company 28 years ago, were ordered to stand trial last November and the case began earlier this year.
    The designers vehemently denied the allegations and called the charges 'absurd' and based on 'a completely abstract calculation' of their companies' market value.
    But in April this year, they lost their appeal.

    The Milan provincial tax commission ruled in favor of Italy's tax authority, Agenzia delle Entrate, finding a 'conduct of abuse with the only goal of obtaining a fiscal advantage'
    .



    Read more: Dolce and Gabbana jailed for 20 months after being convicted for 850m tax evasion | Mail Online

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