It seems that Italian designers are having some serious issues paying their taxes. After the long drawn-out drama over Dolce & Gabbana’s tax evasion, Prada has now also come under investigation. Miuccia Prada and her husband Patrizio Bertelli are currently being questioned over past personal taxes. Prada SpA chairman Carlo Mazzi explained the two are part of an “ongoing examination regarding the accuracy of certain past tax filings by them as individuals in respect of foreign-owned companies." This investigation follows a voluntary disclosure of the couple’s assets in December 2013, and officials maintain that the investigation is fairly routine and the hope to close the case by the end of the year. “The company confirms that neither the company nor any of its subsidiaries was or is involved in this matter,” Mazzi added in his statement.
This Prada scandal is the just the latest in a string of taxes evasions within the Italian fashion industry; charges have also been brought up on the Marzotto textile group (formerly with Valentino), Bulgari and Dolce & Gabbana, the latter of which the Corte di Cassazione (Italy’s version of the Supreme Court) will rule on by October 21. Interestingly enough WWD reports that one of the prosecutors, Gaetano Ruta, a lawyer working on the Dolce & Gabbana case, is also looking into the Prada investigation. With Bulgari paying a total of €43 million (approx. $54.5 million) and Marzotto paying €57 million (approx. $72.3 million) in fines we can expect that, if found guilty, Prada is looking at millions in unpaid back taxes and fines.
