Miuccia Prada Bianchi and Patrizio Bertell are being investigated by Italian tax authorities
After a "voluntary disclosure" last year
Following on from Dolce & Gabbana's tax evasion scandal earlier this year, Prada seem to be the next Italian heavyweight under fire, as Prada SpA has announced that Italian tax authorities are investigating Miuccia Prada Bianchi and Patrizio Bertelli.
In its defence, Prada has said the designer and her husband made a "voluntary disclosure" to tax authorities in December 2013, which resulted in an agreement between them and the Italian Tax Authority. "This agreement completely satisfied the claims of the Italian Tax Authority, as declared and confirmed by the Authority itself," said the company today, adding that neither the firm nor any of its subsidiaries was or is involved in this matter.
In January, lawyers for Prada and Bertelli denied that Italian tax authorities were investigating the pair for unfaithful earnings declarations. Apparently Bertelli and Prada last year paid approximately $643.9 million to the tax office. "It's an enormous sum, Prada and Bertelli themselves advised on the existing tax anomalies, brought back the [legal headquarters of the] company to Italy and paid the backed-up taxes," said a source.
A legal source said any transaction with Italy's tax office starting from a sum as low as 100,000 euros, or $137,000, is declared to the prosecutors, and the case continues.