Fiat Chrysler has reached a settlement with Italian tax authorities over the valuing of its U.S. Chrysler business involving no cash payment or penalty, the group's chief financial officer said.
In December the carmaker challenged a claim by the Italian tax agency saying it had underestimated the value of its U.S. business by 5.1 billion euros after acquiring Chrysler.According to a source at the time, the agency's audit of transactions dating back to 2014 could have left FCA facing a tax bill of US$1.5 billion.
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