Tax bill blunder blights Bulgari brand

Italian luxury house Bulgari was established in 1884 Rome-based haute house Bulgari has kicked off 2013 in scandalous style. he Italian luxury brand, established in 1884, has been accused of tax evasion to the tune of £57 million Women\'s Wear Daily reported that Italian tax authorities are investigating Bulgari\'s behaviour over the past few years,taking a particular interest in 2011, when the company was acquired in a cash-and-share swap valued at £3.6 billion by LVMH Moët Hennessy Louis Vuitton.
The accusation is that Bulgari filtered funds through holding companies in Ireland and Luxembourg instead of seeing their money taxed in Italy.
Dolce & Gabbana defended themselves in early December against accusations that they owe €400 million in taxes, having evaded the fees by setting up a Luxembourg holdings company. Italian tax authorities investigated them in 2007, dismissed the case in 2011, then reopened investigations in 2012.
Bulgari has denied any wrong-doing. \"We have always complied with fiscal regulations in Italy and abroad,\" LVMH watches and jewellery division president Francesco Trapani declared.