Ferrari May Move Fiscal Residence Out of Italy

Ferrari SpA may relocate its fiscal residence outside Italy for tax purposes before being spun off by Fiat Chrysler Automobiles NV next year, unnamed sources tell Bloomberg News.

The option would enable Ferrari to escape Italy's 31.4% corporate tax rate. FCA made a similar move earlier this year when it established its financial headquarters in London. The corporate tax rate in the U.K. currently is 21% and will drop to 20% in 2015.

Bloomberg's sources say Ferrari will decide whether to exercise the option in the next few months.