The Luxembourg-based holding company Lagfin, which controls over 50 percent of Davide Campari-Milano, is under scrutiny for potential tax evasion. Allegedly, the holding company is suspected of concealing 5 billion euros in revenue from tax authorities. The investigation by Italian prosecutors centers on the alleged avoidance of an “exit tax” by Lagfin, which relocated its fiscal headquarters overseas. It is estimated that the company still owes around 1 billion euros in taxes for the years 2018 to 2020.
Davide Campari-Milano, founded in 1860 and officially became a Dutch public limited company in 2020, has been at the center of this investigation. The main shareholder of the beverage group responsible for popular liqueurs like Campari and Aperol is under scrutiny. The owner of Lagfin, Luca Garavoglia, serves as the chairman of the liqueur company. The investigation into potential tax evasion by the company and its holding company remains ongoing as authorities delve into the allegations of hidden revenue and the avoidance of tax obligations.
