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EU: Fiat’s move to UK caused “economic damage” in in Italy says watchdog

 |  July 2, 2019

The decision by Fiat Chrysler Automobiles (FCA) to move its financial and legal offices out of Italy has caused major damage to Italian tax revenues, the national competition watchdog said on Tuesday.

In an annual report to parliament, Antitrust head Roberto Rustichelli complained about “the significant economic loss of state revenues” caused by FCA moving its fiscal headquarters to London and its parent Exor relocating its legal and tax office to the Netherlands.

“Italy is one of the most penalised countries,” from fiscal competition, Rustichelli said.

Full Content: New York Times

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