Automobili Lamborghini, the renowned Italian luxury sports car manufacturer, has entered the cooperative compliance program initiated by Legislative Decree 128/2015, effective from the tax year 2022. The Italian Revenue Agency has officially admitted Lamborghini to this program, marking the successful conclusion of the application process that commenced in May 2022.
- Program Details: The cooperative compliance program facilitates proactive tax risk management, enabling the swift resolution of tax disputes. It establishes a relationship of trust and collaboration between taxpayers, in this case, Lamborghini, and the tax authority.
- Fast-Track Audits: The agreement ensures that tax audits are conducted in advance and on an ongoing basis, eliminating the need for prolonged litigation. This approach aims to enhance certainty regarding pertinent tax matters.
- Stakeholder Interest: Lamborghini's admission responds to the heightened interest from stakeholders regarding the company's fiscal policies. The move aligns with the company's commitment to Environmental, Social, and Governance (ESG) criteria, particularly focusing on governance, transparency, and financial process accuracy.
- ESG Criteria Reinforcement: The cooperative compliance program contributes to strengthening ESG criteria, emphasizing governance pillars and upholding financial transparency. This resonates with Lamborghini's dedication to integrity and compliance within the framework established by the Volkswagen (VW) Group.
Paolo Poma, Chief Financial Officer and Managing Director of Lamborghini, emphasizes that the cooperative compliance program is a natural progression of the company's collaborative and transparent approach with government institutions. This aligns with Lamborghini's integrity model and complies with the sustainability goals set by the VW Group. The admission to this program reflects Lamborghini's commitment to responsible fiscal practices and proactive engagement with regulatory authorities.