The agreement with the tax authorities, the holding company that controls Juventus, pays 746 million dollars

Double agreement worth 949 million euros to end disputes opened with the Revenue Agency. It was signed by Exor, the holding company for the Agnelli family, and Giovanni Agnelli, the family’s safe company. This was reported in today’s edition of Republic.

The holding company that controls Juventus pays 746 million dollars

“Agreement Ending Complex Dispute in Tax Matters – Reads the relevant notes announcing the definition of agreements – with special reference to Exit Tax”. The settlement agreement between Exor and the agency provides for the payment of 746 million, of which 104 million will be in interest; That Giovanni Agnelli provides for the payment of 203 million, of which 28 million are for interest. The problem relates to 2016, when both companies decided to move their tax domicile to the Netherlands.

When calculating exit tax in 2016 – that is, income tax payable on capital gains made on the occasion of the transfer of residence to the Netherlands – both companies applied Pex (participation exemption). A foundation is valid in different European countries to avoid double taxation on profits, first on the company and then on the shareholders. The agency in May 2021 contested this possibility, arguing that in 2016 it was not applicable in the specific case”