Ferrari May Follow FCA Out Of Italy For Fiscal Reasons

Cameron Aubernon
by Cameron Aubernon
ferrari may follow fca out of italy for fiscal reasons

Just as Fiat Chrysler Automobiles left Italy to escape the tax man, Ferrari is considering the same as it moves closer to leaving the nest by next October.

Bloomberg reports the automaker is also considering remaining in Maranello, though a change in its fiscal address wouldn’t affect manufacturing and engineering operations. A final decision either way could come in the next few months, per the publication’s anonymous sources.

Such a move would prove devastating to Italy beyond the nation’s economy, as Ferrari is considered a national treasure. Milan Bicocca University professor of public finance Ugo Arrigo said the move would show investors and companies alike that the country and its fiscal system as uncompetitive; Italy’s corporate rate is 31.4 percent, whereas the United Kingdom — where FCA calls its fiscal home — has a rate of 21 percent, soon to be 20 percent.

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15 of 26 comments
  • Landcrusher Landcrusher on Dec 11, 2014

    Once again, taxing consumption is the only way to go. The loopholes in everything else are enormous. Pretty sure we would have more jobs with zero corporate taxes.

    • See 10 previous
    • Landcrusher Landcrusher on Dec 15, 2014

      @mopar4wd Mopar, Reply eaten. I'm out of patience typing. I''m going to start some sort of protest over this nonsense or just quit coming here.

  • John R John R on Dec 11, 2014

    Venite a Delaware! Home of corporate "headquarters" consisting of call centers at best or a receptionist and an ostracized manager at worst.

  • Schmitt trigger Schmitt trigger on Dec 11, 2014

    Benvenuto a Texas! La casa di la libera impresa! And we promise we won't add BBQ sauce to the pasta. Plus our politicians are crooked, too.

  • Lorenzo Lorenzo on Dec 13, 2014

    No mention of the Euro disaster? Switch back to the Lira, converting Euros on a 1:1 basis, then start devaluing until the economy is competitive. All of southern Europe is strangling with an overvalued Euro based on the German Mark, and it's destroying their societies as well.