Stellantis boss Elkann agrees to community service in tax settlement
TDT | Milan
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The Italian chairman of Jeep owner Stellantis, John Elkann, has agreed to a year's community service as part of an inheritance tax dispute, his lawyer said Tuesday, a day after he agreed to pay 183 million euros to close the matter.
The deal settles a dispute between Italian tax authorities and Elkann, his brother Lapo and sister Ginevra, Turin prosecutors said Monday.
At issue is the inheritance of their grandmother, Marella Caracciolo, widow of the former Fiat boss Gianni Agnelli and a legendary figure in Italy, that is estimated at around 1 billion euros ($1.2 billion).
Prosecutors had accused the family of falsely claiming Swiss tax residence for their grandmother to avoid Italian inheritance tax.
Along with the payment, Elkann, who is chief executive of the family holding company Exor and also chairman of luxury automaker Ferrari, requested probation to avoid criminal prosecution, as is possible under an Italian law that provides for community service.
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