On 14th December, Italy’s finance police seized approximately 86.5 million euros from UPS Italia, the Italian branch of United Parcel Service (UPS.N), a U.S. package delivery company. The police cited alleged tax fraud and illicit labour practices.
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Campari is set to acquire Courvoisier Cognac from the US-Japanese spirits group Beam Suntory in a deal valued at $1.32bn. This represents the largest acquisition by the Italian spirits group, as leading cognac makers, including Courvoisier, report decreased sales due to slowing consumer demand.
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Short-term rental platform Airbnb announced its agreement to pay €576 million in a tax bill, settling a dispute over alleged evasion.
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Young people in Italy who enter the labour market now will not reach retirement age until they are 71. This is according to the OECD said in its Pensions at a Glance Report released on Wednesday.
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Business and Made in Italy Minister Adolfo Urso and Alessio Butti, the cabinet undersecretary with the innovation portfolio, welcomed the EU’s provisional agreement on the Artificial Intelligence Act agreed on Friday.
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“The ‘Silk Road’ is a successful initiative and the world’s biggest platform for cooperation betweencountries,” said Chinese Foreign Ministry spokesman Wang Wenbin on Thursday.
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Confindustria President commented on the government’s 2024 budget bill, deeming it “reasonable” in its focus on aiding low-wage earners. However, he criticised its incompleteness, whilst the Audit Court called it narrow.
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Booking.com Bv, a company based in the Netherlands, settled a tax dispute by paying €94million to the treasury through a membership procedure with the Revenue Agency. The resolution addressed the failure to submit VAT declarations for the years 2013 to 2021, preventing potential seizure.
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Italian tax authorities are moving to seize approximately €779 million from Airbnb due to allegations of unpaid taxes owed by landlords using the platform. This development highlights the increased scrutiny surrounding short-term rentals in major cities across Europe and the United States.
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Prime Minister Giorgia Meloni announced Italy will host a significant AI conference during its presidency of the G7 next year. She made this announcement while addressing the AI Safety Summit at Bletchley Park, UK, on Thursday.
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