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FIAT LEAVES ITALY

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FIAT LEAVES ITALY Empty FIAT LEAVES ITALY

Post by Gala Placidia on Thu Jan 30, 2014 2:26 pm

It is hard to believe, but Fiat is leaving Italy and moving to the UK and the Netherlands. There were rumours, but I just heard the confirmation on the news. This link explains quite a bit FIAT Moves
For Italy, it is not good news at all.
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Post by Admin on Thu Jan 30, 2014 2:48 pm

t's not physically moving, just the tax domicile. The funniest part is the group will be called FICA!!!
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Post by Gala Placidia on Thu Jan 30, 2014 4:46 pm

I'm afraid that it is more than a tax domicile. The headquarters will be located in the Netherlands and FIAT is changing its brand name to FIAT CHRYSLER FIAT NEW HEADQUARTERS
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Post by Admin on Thu Jan 30, 2014 7:10 pm

No Gala, the HQ of the holding company will be in the Netherlands FIAT move to UK
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Post by Gala Placidia on Thu Jan 30, 2014 7:32 pm

Sorry, Admin, but the business world sees it in a different light Arrivederci Italia
The group is now called Fiat Chrysler and its headquarters are being located in the Netherlands although the tax domicile is in the UK. They are not moving to Detroit... looks as if both Italy and the USA are going to loose some revenue...
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Post by Admin on Thu Jan 30, 2014 7:40 pm

I think most people here in Italy are more bothered whether jobs are going. Also the FIAT HQ is staying in Turin, so I guess it is seen differently in Italy to the US.
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Post by Gala Placidia on Thu Jan 30, 2014 7:55 pm

I agree with you in that the main worry is for the jobs that could be eventually be lost, although the decision to pursue the making of luxury cars in Italy may be the solution. Time will tell, but it is very sad to see this outcome, as Fiat is (or was) Italy. Let's hope that it is not as bad as it looks.
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Post by Casa Monal on Thu Jan 30, 2014 8:14 pm

Gala Placidia wrote:I agree with you in that the main worry is for the jobs that could be eventually be lost, although the decision to pursue the making of luxury cars in Italy may be the solution. Time will tell, but it is very sad to see this outcome, as Fiat is (or was) Italy. Let's hope that it is not as bad as it looks.

 


Considering we live and work in the Netherlands which has one of the highest personal tax rates in Europe, FIAT must have struck a corporate tax deal.
 
Time to protest…like the Brits did against Starbucks, Amazon to name two Evil or Very Mad 
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Post by Geotherm on Thu Jan 30, 2014 8:47 pm

Did not think Fiat made a luxury car, so expect them to go to a overseas manufacturer.

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Post by Gala Placidia on Thu Jan 30, 2014 9:36 pm

Geo, Fiat, Lancia, Alfa Romeo and Maserati are all part of the Agnelli group of companies. They cater for all budgets.
Casa Monal, the new company will have its headquarters in the Netherlands; however, their tax domicile is in the UK.
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Post by Geotherm on Thu Jan 30, 2014 9:42 pm

Sorry Gala, I would not consider Fiat, Lancia or Alfa Romeo in the class of luxury brands. Maserati probably, but the reliability is still 50/50, as you would expect from a Fiat  product.

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Post by Gala Placidia on Thu Jan 30, 2014 9:56 pm

Geo, as I said before, they cater for all budgets. Alfa Roneo has the cheaper Giulietta, but they also have the 4C , in a Variety of versions, which is a beatiful car. And I would not mind driving a red Maserati. Great design!  Very Happy
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Post by Geotherm on Fri Jan 31, 2014 2:10 pm

Gala Placidia wrote:Geo, as I said before, they cater for all budgets. Alfa Roneo has the cheaper Giulietta, but they also have the 4C , in a Variety of versions, which is a beatiful car. And I would not mind driving a red Maserati. Great design!  Very Happy

Lol Gala.
Wife learned to drive in a Maserati Quatroporto. First driving instructor turned up and when he saw what was in the garage, could not get away quickly enough!! 2nd one was Ok, but said she could not take her test in it, as would be too much for the examiner and would probably fail her. Think she said she took it in a Vauxhall.
Did want to bring our Supra Turbo over here, but after seeing the state of the roads, then that became a no-no. Crying or Very sad  Crying or Very sad

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Post by Gala Placidia on Fri Jan 31, 2014 2:54 pm

Settle for a Fiat Panda  Very Happy  Our daughter bought herself a Fiat 600 in San Francisco. Loves it! She always finds a parking spot.
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Post by Geotherm on Fri Jan 31, 2014 3:22 pm

Gala Placidia wrote:Settle for a Fiat Panda  Very Happy  Our daughter bought herself a Fiat 600 in San Francisco. Loves it! She always finds a parking spot.

One word ................ YUK

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Post by Casa Monal on Fri Jan 31, 2014 9:02 pm

Gala Placidia wrote:Casa Monal, the new company will have its headquarters in the Netherlands; however, their tax domicile is in the UK.





The Dutch will have made it financially very attractive for Fiat, e.g. substantially reduced rent for a building in a key location, significantly reduced council tax and other perks like company parking etc.
 
It does make me wonder how Fiat can justify the UK as the tax domicile as the Netherlands is also in the EU, double taxation etc.  I thought domicile is considered the country where your 'real' or permanent business/home is? Surely they would have to manufacture Fiat in the UK?  The mind boggles…



 
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Post by Gala Placidia on Fri Jan 31, 2014 10:15 pm

Looks as if they have worked it all out...Fiat Chrysler merger
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Post by Admin on Sat Feb 01, 2014 6:45 am

I suspect the motive is that the UK still has Sterling and not the Euro. Also it is the holding company that is moving to Holland and the UK so I would guess they have more flexibility and is more likely to be based on where the board of directors are located rather than production.
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Post by Gala Placidia on Sat Feb 01, 2014 7:45 am

Here is an interesting analysis Fiat/Chrysler analysis


Last edited by Gala Placidia on Sat Feb 01, 2014 7:47 am; edited 1 time in total (Reason for editing : Forgot insert)
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