To resolve a disagreement over inheritance tax in Italy, the head of Ferrari and Stellantis have agreed to perform a year of community service and jointly pay millions of euros. According to many media sources, Italian prosecutors have announced that John Elkann and his siblings Lapo and Ginerva would pay €183 million (£159 million) to Italian tax authorities.
According to Mr. Elkann’s attorney, neither the Ferrari chair nor his siblings admitted any culpability in the arrangement. He said that the judgments made by the prosecutors represented a chance to “bring this painful affair to a swift and definitive close.
The estate of Marella Caracciolo, Mr. Elkann’s grandmother, who passed away in 2019, is at issue in this tax case. Mr. Elkann will have to recommend a place for him to complete his community service, which, according to Reuters, may be a facility for the elderly or one that assists those who are addicted to drugs.
John Elkann’s request for probation must be viewed in this context and does not entail, just as the settlement with the tax authorities does not, any admission of responsibility,” said Paolo Siniscalchi, the Elkanns’ lawyer, in a statement to the BBC. The procedures against him will be halted if this request is approved, and when the probationary term.
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