FCA challenges Italy tax agency over value of US business

MILAN: Fiat Chrysler has challenged Italy's tax authority which has said the car company had underestimated the value of its US business after it bought Chrysler.

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 US$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.In its third-quarter report in October, FCA said Italy's inland revenue had issued the company with a final audit report in October this year.

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Fiat Chrysler disagrees with Italy tax agency on underestimating US businessFiat Chrysler Automobiles said on Thursday it strongly disagreed with a tax authority claim that it had underestimated the value of its U.S.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »