MILAN Dec 31 Italian police have carried out
checks at Rome jeweller Bulgari to assess whether the group
owned by French luxury conglomerate LVMH regularly
declared income tax in Italy, a newspaper reported.
Italian authorities have intensified their efforts to
collect taxes this year and have already targeted foreign
companies, such as Google and Facebook to assess
whether their Italian divisions are paying their taxes.
The Corriere della Sera on Monday reported that police
completed a tax inspection last week, alleging Bulgari did not
declare income in Italy to the tune of around 70 million euros
"We have always complied with fiscal regulations in Italy
and abroad," Bulgari family member Francesco Trapani, who heads
LVMH's jewellery and watch division, told the newspaper.
The report, which cites a police document, said controls
focused on the last five years through 2011, the year when LVMH
bought Bulgari in a all-share deal worth 3.7 billion euros.
Trapani said Bulgari has always collaborated with Italian
authorities and emerged unscathed from past fiscal controls.
Bulgari was not immediately reachable for further comment.