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Fiat Chrysler rejects Italian tax claims

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The Italian-American car manufacturer Fiat Chrysler (FCA) has rejected tax demands of the Italian tax authorities. It is about the merger of the two previously separate companies in 2014.

According to news agency ANSA, the Italian tax authority sets the value of Chrysler at 12.5 billion euros, while Fiat has declared 7.5 billion. The tax rebate amounts to 1.5 billion US dollars (1.35 billion euros), it said.

„We have the preliminary report (the tax authority) decidedly back,“ said a Fiat spokesman today. It was confident that the present rating could be significantly reduced. Even in the event of a taxable profit, it would be offset by loss carryforwards. A spokesman for the Italian tax authority did not comment today.

Fiat Chrysler had already indicated in its quarterly report from early November on the pending tax controversy and wrote that a decision by the end of December is expected. Currently, the group is in negotiations with Opel’s mother PSA about a megafusion.