Agnelli & co. they pay but celebrate: almost 4 billion between discounts and incentives

by time news

Agreement with the taxman for almost a billion? But Agnelli & co. still celebrate

As we know since Friday, Exor, holding company of the Agnelli family, defined a complex tax dispute with the Revenue Agency, with particular reference to compliance with the Exit Tax. The dispute concerns the Italian company Exor, which merged with its Dutch subsidiary in December 2016 Exor Holding N.V. giving rise to today’s Exor. In detail, explains a note, under the agreement Exor will pay 746 million euros, of which 104 as interest. With 203 million interest from Giovanni Agnellu BV, 949 million in all.

Today il Fatto Quotidiano ago i “accounts of the servant” in the pocket of the Agnelli & company. “The discount applied by the tax authorities this time could well be greater than 50%. It will be said: 950 million is still a nice figure. The answer is: not for all budgets. To understand, let’s take the case of Exor, a listed holding of 120 billion. of consolidated revenues: after a heavy 2020, recorded 838 million of net profit in the first half of 2021 and flirts with the two billion over the whole year. The fine with discount (746 million) will decrease the profit by 40% or less in just one year. Then, in 2022, the sale of the insurance giant PartnerRe to the French of Covéa will take place for 7.7 billion with an expected capital gain of approximately 2.8 billion for Exor“, explains the Fact.

“If to leave the Agnelli holding companies pay the change of a value created in Italy, those that the State has given and will give to the family businesses are not”, writes Il Fatto, which identifies the earnings between tax discounts and incentives for “Agnelli & company” companies.

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