Headlines
Italian police seize $1.5 billion from Campari holding firm in tax probe
Published by Global Banking & Finance Review®
Posted on October 31, 2025
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on October 31, 2025
2 min readLast updated: January 21, 2026
Italian tax police seized $1.5 billion from Campari's parent firm over alleged tax evasion, involving Campari's leadership and undeclared capital gains.
By Emilio Parodi
MILAN (Reuters) -Italian tax police said on Friday they had seized shares worth 1.29 billion euros ($1.5 billion) from the holding company that controls Italian drinks group Campari, over alleged tax evasion.
The Luxembourg-based holding company, Lagfin SCA, was not immediately available for comment.
Campari said it was not involved in the case and neither were any of its subsidiaries.
However, according to the seizure order seen by Reuters, Campari Chairman Luca Garavoglia is among those under investigation for fraudulent tax returns, in addition to Lagfin SCA as a company.
Garavoglia's lawyers have not yet replied to a written request for comment.
Milan prosecutors last year launched a criminal probe after checks by the Guardia di Finanza police uncovered around 1 billion euros of allegedly unpaid taxes from 2018-2020, owed by Lagfin.
The investigation was then transferred to the nearby public prosecutor's office in the city of Monza, which ordered Friday's seizure of shares.
Last year, Lagfin said in a press release that "the company has always fulfilled its tax obligations ... in all the jurisdictions where it operates, and considers any potential objection to be devoid of any basis."
Police said in their statement on Friday they had found 5.3 billion euros of undeclared capital gains on which the company failed to pay a so-called "exit tax", levied on firms that transfer their fiscal headquarters abroad.
The capital gains stemmed from a merger between Lagfin and its Italian subsidiary, which owned a controlling stake in Campari.
($1 = 0.8575 euros)
(Additional reporting by Francesca Landini, editing by Gavin Jones)
A holding company is a parent corporation that owns enough voting stock in another company to control its policies and management. It does not produce goods or services itself.
Capital gains are the profits earned from the sale of an asset, such as stocks or real estate, when the sale price exceeds the purchase price.
Corporate tax is a tax imposed on the income or profit of corporations. It is calculated based on the company's taxable income.
A tax investigation is a review or audit conducted by tax authorities to ensure compliance with tax laws and regulations, often triggered by suspected tax evasion or fraud.
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