Fiat-Chrysler vows to pay Italian tax bill
Newly-merged Fiat Chrysler Automobiles has confirmed that it will continue to pay taxes in Italy, following an announcement last month it would be resident in the UK for tax purposes.
The company announcement will calm fears that Fiat, Italy’s largest private employer, will continue to support the country’s struggling economy despite merging with US car company Chrysler.
Seeking a fiscal domicile in the UK will not bring “significant effects on the group’s fiscal burden,” the company was quoted in La Stampa as saying.
“The group, including the part in Italy, will continue to be subjected to the tax obligations of the various countries it operates in,” Fiat-Chrysler said.
The $4.35-billion (€3.17-billion) merger was completed in January, the end of a gradual takeover which began in 2009.
As part of the deal Fiat-Chrysler will list its shares in New York and Milan, while parent company Fiat Chrysler Automobiles N.V. will be organized in the Netherlands.
SEE ALSO: Fiat shares down as new name announced
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The company announcement will calm fears that Fiat, Italy’s largest private employer, will continue to support the country’s struggling economy despite merging with US car company Chrysler.
Seeking a fiscal domicile in the UK will not bring “significant effects on the group’s fiscal burden,” the company was quoted in La Stampa as saying.
“The group, including the part in Italy, will continue to be subjected to the tax obligations of the various countries it operates in,” Fiat-Chrysler said.
The $4.35-billion (€3.17-billion) merger was completed in January, the end of a gradual takeover which began in 2009.
As part of the deal Fiat-Chrysler will list its shares in New York and Milan, while parent company Fiat Chrysler Automobiles N.V. will be organized in the Netherlands.
SEE ALSO: Fiat shares down as new name announced
Don't miss a story about Italy - Join us on Facebook and Twitter.
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