FCA challenges Italy tax agency over value of U.S. business

) has challenged Italy’s tax authority which has said the car company had underestimated the value of its U.S. business after it bought Chrysler.

On Wednesday, a source close to the matter said the Italian tax agency believed FCA had underestimated its business in the United States after its phased acquisition of Chrysler by 5.1 billion euros.The tax audit comes at a delicate time for the carmaker which is finalizing talks with PSA , the maker of Peugeot and Citroen, over a planned $50 billion merger to create the world’s fourth-largest automaker.

“We are confident we will successfully make the case for a material reduction in the assessment,” the FCA spokesperson said.

Fix it again, Tony.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Democrat Biden's plan would raise taxes from U.S. companies that pay littleU.S. Democratic presidential candidate Joe Biden would use taxes on the wealthy ... it's always 'raise taxes'.... thats better than giving the ultra wealthy a tax break and watching our deficit rise Well this is dumb
Source: Reuters - 🏆 2. / 97 Read more »