(by Marco Zacchera) The FCA (formerly FIAT) in application of the "Cura Italia" is negotiating with IntesaSanpaolo a 6,3 billion euro loan (6.300.000.000) guaranteed by the state, at zero rate for two years and then subsidized with a partial guarantee to 80% of Sace (i.e. ultimately by the Ministry of the Treasury) to support the Italian FCA activities in Italy. That's right, given the production of the (few) remaining Italian factories and the automotive supply chain to be supported.
Just two things to note: the FCA has moved its registered office to Amsterdam to take advantage of the multiple voting legislation without paying taxes and has also brought the tax office to London to save tax on dividends to shareholders, including especially the shareholder Exor, the holding company headed by the Agnelli family.
Not only. the Inland Revenue has launched an investigation against FCA for failure to pay the Exit Tax, which is envisaged for all companies that move their residence abroad. The proceeding ended with a voluntary adherence by FCA to a fine of 700 million (in short, admitting that he deliberately made the smart ones, but knowing full well in view of earning much more), still obtaining a payment in installments in ten years.
Taxes at subsidized conditions therefore to be paid in a decade but now receiving almost 10 times more in interest-free contributions for the first two years. A nice deal with the final profits of the group which will thus continue not to pay taxes in Italy.
Think of such an advantageous behavior in favor of any other small or medium Italian company, perhaps yours ...
Too bad that in the government decree there was not in fact a magic word: "We help businesses, but based in Italy". ... Who knows why the government left - a little distracted - has not even noticed ...