Gucci’s Italian Offices Audited in Tax Evasion Probe

Tax police in Italy have visited the offices of fashion company Gucci as part of an investigation into tax evasion, Reuters reported Saturday, citing a source familiar with the situation. Gucci released a statement in response to local media reports of a tax police audit, saying it is “providing its full cooperation to the respective authorities and is confident about the correctness and transparency of its operations.” Checks by the tax police were carried out this week at the company’s Milan and Florence headquarters, according to the source cited by Reuters. Prosecutors reportedly suspect that Gucci paid taxes on profits earned in Italy in another country with a more lenient tax regime. French luxury group Kering, which owns Gucci, declined to provide further comment to Reuters on the reported audits.