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Armani ordered to pay millions in tax dispute

Luxury fashion brand Armani has been ordered to pay €270m (£221m) to the Italian government in a tax dispute dating back to 2002.

It has been reported that Armani paid the outstanding amount after a restructure between 2002 and 2009 in which it brought subsidiary companies back onto Italian soil.

The tax liabilities are understood to have been owed by three subsidiary companies relocated to Italy as part of the strategy.

Italian newspaper Il Sole 24 Ore, which first reported the payment by Armani, said it was the only outstanding tax dispute involving the fashion brand.

Last year, Italian designers Domenico Dolce and Stefano Gabbana, founders of Dolce & Gabbana, were found guilty by Italian authorities of tax evasion. The pair have denied the charges, which could lead to prison terms if they fail in their appeal, which is currently ongoing in the Italian courts.

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