Is the deal (for now) of Nutella: the Tax authorities in the home in exchange for certainty on the rules, that all of the comments and the international rankings there among those stars as one of our biggest deficiencies facing investors. And certainties have, because even for the Agency in the procedure of the new so-called “cooperative compliance” will look binding: once the green light the Tax authorities will no longer be able to go back or renege on the judgment, a particular that explains why the new procedure will appeal especially to corporations and because they are accepting the Tax, that is, the “enemy” in the house.
That Ferrero is tile number 1 of the “cooperative compliance”, an anglicismo as it is now fashionable to the revenue Agency that indicates the new way of dialogue with the companies that bill more than 10 billion: in essence, instead of arguing after, we will agree first on what you can and can not do. Not a little. After that Ferrero are expected to be other procedures of admissions, but with the id number 1 of the Nutella you can say that the new compliance has taken the via, a move which brings us closer to the Oecd Countries. Ferrero Spa and its Italian subsidiaries and, therefore, will be the test for the procedure. Nothing changes for the holding company, Ferrero International, with headquarters in Luxembourg: the agreement concerns only the Italian business, which represents about 15% of the turnover of the multinational spread cream.
The company pays taxes in each Country on the basis of sales, even if it remains the theme of the tax structure, “offshore”, it’s very complex with a plethora of companies such as Ferrero Trading Lux which manages the international supply of hazelnuts that are necessary for the famous spreadable cream. The move of Ferrero (access was voluntary) is part of a series of changes that basically have taken away after the disappearance of the old owner, Michele Ferrero, each time followed by a suspicion that the ultimate goal is the “sale” rumor that never faded but never confirmed.
Only in 2016, the company had placed order to their own structure for clarity on areas with higher and lower profitability (especially in Italy, the company has had losses of concern in recent times, dammed in 2016). In December he had also launched the counter-cultural battle, by confirming the use of palm oil is also on the Nutella, which represents about 80% of the market on the spreads, in essence a monopoly. The choice of course that contrary to what you might imagine — a lot of companies have abandoned the oil palm as a result of the protests of the consumers of its use is very controversial — he has paid, by recovering sales in the last slice of 2016.
The revenue Agency pointed out that “the institute of fulfillment, collaborative aims to establish a relationship of trust between the Administration and the taxpayer which aims to increase the level of certainty in tax issues is relevant”. In the first phase of the application, specifying even the Revenue, the institute has access to voluntary confidential to residents and non-residents, with the volume of business or revenues of not less than ten billion or a billion if they have filed for participation in the “pilot project” launched by the Agency in 2013. From the covenant of the Nutella might depend on the future of the Tax office for large companies.
January 5, 2017 (amending the January 5, 2017 | 23:13)
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