Thursday, June 20, 2013

Designers Dolce and Gabbana get jail term for evasion of tax

MILAN: Fashion designers Domenico Dolce and Stefano Gabbana were handed a 20-month suspended prison sentence and a heavy fine on Wednesday for hiding hundreds of millions of euros from Italian tax authorities.

The designer duo, who are nearly as famous as the stars they dress, were not present in the court in Milan and will lodge an appeal against their conviction on charges that they have always denied. “We will read the reasons for the verdict, and we will appeal,” said Massimo d Noia, one of the pair’s defence lawyers after the hearing.

Public prosecutor Gaetano Ruta had asked for a two-and-ahalf-year jail term. However, the two designers will have to pay 5,00,000 euros as a first instalment of a fine that could reach 10 million euros ($13.4 million).

A spokesman for their Dolce and Gabbana company declined to make an immediate comment.
20 Jun 2013, Hindustan Times (Mumbai), Reuters

No comments:

Post a Comment