Italian authorities have launched an investigation into the holding company responsible for popular liqueurs like Campari and Aperol, reported by local media outlets. The main shareholder of Davide Campari-Milano, Lagfin, is under scrutiny for potential tax evasion. Allegedly, the Luxembourg-based holding company is suspected of concealing 5 billion euros in revenue from tax authorities.
The investigation centers around the alleged avoidance of an “exit tax” by Lagfin. This tax is applicable to Italian businesses that relocate their fiscal headquarters overseas. It is believed that Lagfin avoided paying this tax following the merger of the former holding company, Alicros, into the Luxembourg entity in 2018. Authorities suspect that Lagfin established an Italian branch to bypass the payment of the exit tax.
Davide Campari-Milano was officially founded in 1860 and became a Dutch public limited company in 2020. The owner of Lagfin, Luca Garavoglia, serves as the chairman of the liqueur company. The investigation into potential tax evasion by the company and its holding company remains ongoing as authorities delve into the allegations of hidden revenue and the avoidance of tax obligations.
Italian prosecutors have launched an investigation into a holding company responsible for popular liqueurs like Campari and Aperol over potential tax evasion allegations reported by local media outlets. The main shareholder of Davide Campari-Milano, which controls over 50 percent of popular liqueurs like Campari and Aperol, is being scrutinized for possible tax evasion.
Lagfin, which is based in Luxembourg but controls over 50 percent of Davide Campari-Milano’s beverage group, is suspected of concealing 5 billion euros in revenue from Italian tax authorities.
The investigation centers around whether Lagfin avoided paying an “exit tax” following a merger with a former holding company in Luxembourg in 2018.
Lagfin established an Italian branch to bypass payment of this exit tax after merging with Alicros in Luxembourg.
Davide Campari-Milano was officially founded in Italy before becoming a Dutch public limited company in 2020.
Luca Garavoglia, who owns Lagfin, serves as chairman at Davide Campari-Milano.
The investigation into potential tax evasion by this beverage group’s holding company remains ongoing as Italian authorities continue to dig deeper into allegations surrounding hidden revenue and avoiding taxes obligations.
