Overview

• Andrea Pignataro will pay €280 million to the Agenzia delle Entrate to end a claim that had swelled to €1.2 billion with penalties and interest.
• The deal covers allegations that he maintained Italian tax residency from 2013 to 2023 despite living in London and Switzerland for over thirty years.
• Both sides characterised the transaction as a cooperative solution built on principles of good faith and institutional collaboration.
• The Italian Revenue Agency cited ‘objective interpretive uncertainties’ in prior tax regulations as a factor in reaching the agreement.
• The settlement explicitly avoids any admission of guilt or tax evasion by Pignataro, Forbes’ second-richest Italian after Giovanni Ferrero.