Milan, 31 October (LaPresse) – Financial police officers from the Milan provincial command have executed a preventive seizure order, issued by the investigating magistrate of the Court of Monza, for a value of over €1.2 billion against the Luxembourg-based holding company Lagfin Sca, for the offence of fraudulent declaration by other means and for the administrative liability of legal persons. The investigation, conducted by the Milan Economic and Financial Police Unit, began with a tax audit of the holding company, which, following an extraordinary merger by incorporation, absorbed its Italian subsidiary, the majority shareholder of Davide Campari Milano. The investigations revealed that, at the time of the merger, capital gains from “exit tax” amounting to over €5.3 billion, accrued by the Italian company being incorporated and not taxed at the time of their exit from the national territory, as required by tax legislation, had not been declared. In particular, through a series of complex transactions, the corporate group had only formally transferred the assets held by the Italian company to a newly established domestic branch, while the actual management of the financial branch was carried out at the level of the foreign parent company. The seizure, worth €1,291,758,703.34, was carried out in full by placing a lien on the ordinary shares of the company owned by the Luxembourg holding company, up to the amount specified in the decree, corresponding to the tax not paid when the merged company was transferred abroad.