Campari clarifies it is not under investigation for tax evasion
Campari Group has officially clarified that neither Davide Campari-Milano NV nor any of its subsidiaries are under investigation by authorities, addressing recent media reports from yesterday (26 June). In a statement, the company emphasised that no impact is expected for Davide Campari-Milano NV or its subsidiaries.
This clarification follows reports of Milan prosecutors opening an investigation into Lagfin, the Luxembourg-based holding company that controls Campari. According to sources cited by Reuters, the investigation stems from tax police checks revealing around €1bn in unpaid taxes from 2018 to 2020.
Lagfin responded to the allegations, stating: “The company has always fulfilled its tax obligations with the utmost scruple in all the jurisdictions where it operates and considers any potential objection to be devoid of any basis”, noting that no formal notice of assessment has been issued.
The investigation reportedly involves €5bn of undeclared revenues, with the unpaid taxes linked to the ‘exit tax’ imposed on companies that relocate their fiscal headquarters abroad.
Despite the investigation into Lagfin, Campari Group reiterated that neither it nor its subsidiaries are implicated, ensuring that their operations remain unaffected.
Campari’s clarification notice reads as follows: “In relation to some articles published on 26 June by the media, Campari Group clarifies that neither Davide Campari-Milano NV nor any of its subsidiaries are under investigation by the authorities. Therefore, no impact is expected for Davide Campari-Milano NV nor for any of its subsidiaries.”
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