Dolce & Gabbana Acquitted Of Tax Evasion


Design duo Domenico Dolce and Stefano Gabbana will not have to stand trial for alleged tax fraud, following accusations that the designers had avoided paying taxes totaling $569 million each.The designers were accused of setting up a holdings company in Luxembourg in 2004, called Grado Srl, to which they sold their D&G and Dolce & Gabbana brands in order to evade the high taxation rates in Italy.

It is a claim which the designers have always vigorously denied, previously stating that the lawsuit was ‘an absurd demand based on a completely abstract calculation.’

Had Dolce and Gabbana been found guilty, they could have been personally liable to pay more than $1 billion in unpaid taxes and fines, and subjected to a prison sentence of up to three years.

The announcement will no doubt come as a huge relief to the famous pair, whose clientele include the likes of celebrities such as Britney Spears.

(Source: Telegraph)