Italian fashion designers Domenico Dolce and Stefano Gabbana, founders of the Dolce & Gabbana couture business, were sentenced by an Italian court to a 20-month suspended prison sentence and a fine of approximately $670,000 for tax evasion.

They were found guilty Wednesday of failing to declare 200 million euros, or about $268 million, in income earned by a Luxembourg-based company, to tax authorities in Italy, according to the Associated Press. The designers were acquitted of misrepresenting 416 million euros, or approximately $560 million, after the statute of limitations had expired.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access