The transfer of Fiat Chrysler
Automobiles' tax HQ to London caused Italy "significant economic
damage," Antitrust authority chief Roberto Rustichelli said in
the authority's annual report Tuesday.
Italy "is one of the most penalised countries" from fiscal
competition, the report said.
Tax dumping costs Italy 5-8 billion dollars a year,
Rustichelli said.
Fiscal competition caused a "grave disadvantage" for Italian
businesses, he said.
In the last year and a half, the annual report said, the
authority meted out sanctions totalling some 1.27 billion euros.
For the protection of competition, a total of 29 proceedings
were completed, Rustichelli said.
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