By  on May 16, 2019

MILAN — Kering’s decision to settle with the Italian Revenue Agency through the payment of 1.25 billion euros — one of the biggest ever with the Italian authorities — could become a cornerstone decision and have a major effect on similar scenarios, triggering questions about international taxation.

The case confirms “the obsolescence of the traditional criteria of international taxation that are based on transfer pricing theories and the ‘permanent establishment’ concept, as they continue to fuel uncertainties and litigation between companies and the financial administrations in various countries,” said Luigi Perin, CPA, partner at Funaro & Co. P.C.

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