Agnelli-Elkann and Campari, those parallels with the problems with the tax authorities
The world of Italian industry is witness to complex family dynamics, which seem to repeat themselves in different sectors, from the automotive industry to alcohol. A clear example is the internal feud involving the Agnelli-Elkann familywith similar echoes now found in the group Garavogliaowner of Italian bitter Campari.
The similarities between the two families are not limited to business affairs but extend to old friendships between key figures such as John Elkann And Luca Garavogliapresident of the Campari group.
Recently, as reported by the newspaper “Tomorrow“, both families have been subjected to tax investigations for similar issues, with the IRS raising allegations of tax evasion concerning transfers of tax and patrimonial residences abroad. In particular, the Garavoglia they are accused of having moved the majority of Campari shares to Luxembourg, evading it the exit tax Italian: a tax on profits generated by the transfer of a company’s tax residence.
This tax optimization strategy is not new: already in 2014 the Lambs they moved the headquarters of Fiat-FCA in the Netherlands, a strategy later followed by Campari in 2020 with the transfer of the registered office to the Netherlands. The two families also share consultants and strategies, as demonstrated by the messages between Luca Garavoglia And John Elkann regarding the management of the transfer abroad.
Another point of contact between the two families is the Swiss bank Pictetthrough which both have managed part of their capital. These ties also extend to inheritance disputes. The Garavoglia family recently resolved an internal dispute, similar to the one still ongoing between the Agnelli heirsshowing how these conflicts and strategies are a common thread in the Italian business landscape.
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