Italy Hits Guess With $12M Tax Bill

Guess Inc. and its former president have become the latest in the fashion world to face the scrutiny of Italian tax authorities.

The company said in a Securities and Exchange Commission filing Tuesday that it will “vigorously contest” a $12 million tax assessment for 2008 and 2009 levied by officials in Italy as a prosecutor commenced a review of the actions of three members of its European management team and its former president and chief operating officer, Carlos Alberini.