FCA Denies Plan to Move Ferrari’s Tax Residence

Fiat Chrysler Automobiles NV denies a Bloomberg News report on Wednesday that the company might shift the legal tax residence of its Ferrari supercar unit to another country.

Bloomberg quoted unnamed sources who said FCA was considering the move ahead of its plan to spin off Ferrari next year. But the company, dismissing the report as groundless, declares, "There is no intension to move the tax residence of Ferrari SpA outside Italy."