Ferrari Said to Weigh Moving Fiscal Base Outside Italy

[fratelliferrari]

http://www.bloomberg.com/news/2014-1...ide-italy.html

[Nero Horse]

Nooo!!! I really hope this won't happen. The financial situation is difficult in Italy at the moment, yes, but Ferrari should always remain 100% Italian. Hopefully this is just a rumor.

[Hornet]

If I understood it correctly, this would mean moving Ferrari's headquarters elsewhere right.

Doesn't this mean that if this goes through, and when we win, they will be playing some other national anthem and not Italian one on the podium :xmasconfused: Not that I expect our new president to make decision base on podium songs of course. But just trying to get the idea of how wrong this would feels like for the entire Ferrari brand. Surely we can't be putting the Italian flag on our logo if we are technically and legally a different nation's company.

I hope this is just a bad joke from someone inside the company.

[Ed Harley]

France and La Marseillaise would be a decent alternative - just about everybody knows the anthem.

[wisepie]

Nooo!!! I really hope this won't happen. The financial situation is difficult in Italy at the moment, yes, but Ferrari should always remain 100% Italian. Hopefully this is just a rumor.

I get your point Nero Horse, but sadly Italy has been a financial mess for a long time and it may make sense for their financial affairs to be based elsewhere to safeguard the company as a whole. Italy has suffered for years with its governments and like most other EU countries, massive changes are needed. Ferrari, like most other companies in the modern world, are now multi-national to an extent, but I will always refer to Ferrari as Italian because despite the changing world we live in, Enzo founded an Italian icon and the passion that it created, and I'll always be an Italophile!!

[Nero Horse]

If I understood it correctly, this would mean moving Ferrari's headquarters elsewhere right.

Doesn't this mean that if this goes through, and when we win, they will be playing some other national anthem and not Italian one on the podium :xmasconfused: Not that I expect our new president to make decision base on podium songs of course. But just trying to get the idea of how wrong this would feels like for the entire Ferrari brand. Surely we can't be putting the Italian flag on our logo if we are technically and legally a different nation's company.

I hope this is just a bad joke from someone inside the company.

I think the headquarters would still remain in Maranello and Ferrari as a company would still be Italian and Italian anthem would be played on the podium, but just the fiscal base would be relocated to somewhere else to avoid paying such high taxes. Maybe I'm wrong, but I think it's the same way as for example Vettel and Raikkonen are living in Switzerland to avoid paying high taxes but are still representing Germany and Finland when racing. Anyway, as I said before, I hope it's just a rumor.

[Hornet]

I think the headquarters would still remain in Maranello and Ferrari as a company would still be Italian and Italian anthem would be played on the podium, but just the fiscal base would be relocated to somewhere else to avoid paying such high taxes. Maybe I'm wrong, but I think it's the same way as for example Vettel and Raikkonen are living in Switzerland to avoid paying high taxes but are still representing Germany and Finland when racing. Anyway, as I said before, I hope it's just a rumor.

Alright, thanks. I didn't really know exactly what a fiscal base means :xmasredface:

[Kiwi Nick]

FIAT Chrysler Automotive (FCA) in chartered in the Netherlands and HQ is in London.

[fratelliferrari]

I think the headquarters would still remain in Maranello and Ferrari as a company would still be Italian and Italian anthem would be played on the podium, but just the fiscal base would be relocated to somewhere else to avoid paying such high taxes. Maybe I'm wrong, but I think it's the same way as for example Vettel and Raikkonen are living in Switzerland to avoid paying high taxes but are still representing Germany and Finland when racing. Anyway, as I said before, I hope it's just a rumor.

Yes you're right in that Nero Horse! I study Business Law so it's sort of my subject! Ferrari would want to leave for lower taxes. If they choose to relocate there's a good chance Ferrari will end up in the Netherlands! It's called a 'Taxes Paradise' for multinationals by our own country and government

[Nero Horse]

Yes you're right in that Nero Horse! I study Business Law so it's sort of my subject! Ferrari would want to leave for lower taxes. If they choose to relocate there's a good chance Ferrari will end up in the Netherlands! It's called a 'Taxes Paradise' for multinationals by our own country and government

So if the fiscal base would be relocated to Netherlands for example or anywhere else, then Ferrari would still remain as an Italian company, right?

[fratelliferrari]

So if the fiscal base would be relocated to Netherlands for example or anywhere else, then Ferrari would still remain as an Italian company, right?

Hi Nero Horse, I will look for it tomorrow, but I had an exam about this subject last year so I have forgotten a bit sorry...

[Nero Horse]

Hi Nero Horse, I will look for it tomorrow, but I had an exam about this subject last year so I have forgotten a bit sorry...

Ok then buddy, no worries. :xmassmile:

[Kiwi Nick]

Hi Nero Horse, I will look for it tomorrow, but I had an exam about this subject last year so I have forgotten a bit sorry...

They could form a holding company in the Netherlands, Switzerland, Ireland or wherever and operate under the rules governing corporations and taxation in that country. The holding company could then own the shares of the operating company, or subsidiary, located in Italy.

[Brembo]

Ferrari must put Kimi in charge of all financial affairs. He clearly stated the very first thing he does every day is wake up! And who else can have a team like Ferrari pay him to stay home?

[wisepie]

Yes you're right in that Nero Horse! I study Business Law so it's sort of my subject! Ferrari would want to leave for lower taxes. If they choose to relocate there's a good chance Ferrari will end up in the Netherlands! It's called a 'Taxes Paradise' for multinationals by our own country and government

This could be your big opportunity to get into the heart of Ferrari, fratelli!! Just what you've always promised yourself, so go for it!:xmasbiggrin:

[fratelliferrari]

This could be your big opportunity to get into the heart of Ferrari, fratelli!! Just what you've always promised yourself, so go for it!:xmasbiggrin:

If Ferrari really decides to come to my country, I will write them a letter the first day! That would be a dream to work there :xmastongue:

[Kiwi Nick]

If Ferrari really decides to come to my country, I will write them a letter the first day! That would be a dream to work there :xmastongue:

If Ferrari do move their charter to the Netherlands, they will hire a law firm and a secretary. Good luck to you!

[Stormy]

If Ferrari choose to move the fiscal base outside of Italy they will of course remain an italian company and will race under italian flag. Red Bull F1 factory is based in the UK but they race under Austrian flag and the Austrian anthem is played.
Mercedes F1 team is also in the UK but of course they are racing under German flag :)
F1 teams like to have their base in the UK because of all the F1 technology that is concentrated there.

Briatore said that we should consider moving our base in the UK
Old news
http://www.f1zone.net/news/ferrari-m...riatore/38095/

[stuch]

Nooo!!! I really hope this won't happen. The financial situation is difficult in Italy at the moment, yes, but Ferrari should always remain 100% Italian. Hopefully this is just a rumor.

That's their financial base, not the PHYSCIAL factory.

[Forza7]

Will this benefit Ferrari F1 team? Because some were saying that F1 ppl like to work in UK base....and there are chances of getting many top ppl if the base was in UK!

[eddie]

That's their financial base, not the PHYSCIAL factory.

Yes, 2 seperate things all together. Finance, operations, human resources, marketing and logistics office movements will not make Ferrari less Ferrari neither will it make Ferrari less Italian. Some of these global functions can be moved to secure better and more efficient human resource or material resource requirements.

Don't panic guys

[Nero Horse]

Ferrari SpA has no intentions of moving outside of Italy, according to parent company Fiat Chrysler Automobiles NV.

In an attempt to quash media reports this week that the famed Italian automaker was considering moving its fiscal headquarters outside Italy to save on taxes, Fiat Chrysler released a statement Thursday calling the reports “rumors” that “have no grounds.”

“There is no intention to move the tax residence of Ferrari S.p.A. outside Italy, nor there is any project to delocalize its Italian operations, which will continue to be subject to Italian tax jurisdiction,” the company said in a statement.

[Alonso14]

Briatore said that we should consider moving our base in the UK
Old news
http://www.f1zone.net/news/ferrari-m...riatore/38095/

Like it or not, UK is the central hub of all things Formula 1. It's no coincidence that the majority of F1 teams, regardless of which flag they are racing under, are based in the UK. The UK produces the biggest amount of quality engineers as well. It's also not a coincidence that the most successful and most highly regarded engineers are British and/or educated in the UK.

Obviously it's not realistic to think about moving away from Marenello given the amount of money spent on infrastructure and the history around the place but a move to the UK would certainly have benefits.