January 26, 2018 / 9:13 PM / 2 years ago

Kering says Gucci boss tax compliant in Italy after report

Gucci CEO Marco Bizzarri poses at the Los Angeles County Museum of Art (LACMA) Art+Film Gala in Los Angeles, October 29, 2016. REUTERS/Danny Moloshok

PARIS (Reuters) - French luxury group Kering said on Friday that Gucci boss Marco Bizzarri was fully compliant with his tax obligations in Italy, after a French newspaper reported that the executive and his employer had benefited from an offshore tax scheme.

Mediapart, citing an internal email and other documents, said Kering and Bizzarri had saved millions of euros in tax and welfare bills over a seven-year period by channeling pay checks through a firm in Luxembourg.

Kering, which also owns brands like Saint Laurent, said: “Kering has implemented a governance that aspires to ensure full compliance with tax regulations at all levels, including its employees. As regards Mr. Bizzarri, he is fully compliant with his tax obligations in Italy, where he is tax resident.”

Gucci had referred enquiries from Reuters to Kering.

The report comes weeks after Milan prosecutors opened an investigation into suspected tax evasion at Florence-based Gucci, focused on whether some of Gucci’s corporate earnings should have been taxed in Italy.

Reporting by Sarah White in Paris, additional reporting by Giulia Segreti in Milan, editing by David Evans

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