Tax evasion seems to be the elite’s favorite form of discipline these days because it seems to be taking down everyone. The latest victims are Italian fashion designer duo Domenico Dolce and Stefano Gabbana. They were each issued suspended 18 month (down from 20) jail sentences in an Italian appeals court upheld a conviction from last June for failing to pay 40 million euros tax evasion charges.
The pair swear their innocence and even the prosecution recommended they be cleared, but the judge was having none of it. They were issued a fine of 500K euro in addition to the sentence.
They have vowed to appeal to Italy’s Supreme Court of Cassation to clear their good name.
If you want my opinion they should take that suspended sentence and pay their fine. They’re getting off easy compared to other Italian luxury designers. The Italian government has been salty with the luxury brands because they were the only ones to continue to generate profit during the country’s longest recession since World War II.
Giorgio Armani paid 270 million euros to tax authorites in April this year, and Prada Holding had to paid in the neighborhood of 400-420 million euros to settle taxes in Italy last December.
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