SIGMA TAU, THE DAY AFTER THE COMPLAINT
If something concrete was expected as early as this morning, expectations were disappointed. The workers of Sigma Tau - after Riccardo Iacona, Rai host of "Presadiretta" dedicated more than an hour of broadcast to them, titling it "Recession" - hoped that already today some positive rumors could spread about their story, but no news has arrived. Through the interviews conducted by Francesca Barzini, Vincenzo Guerrizio, Raffaella Pusceddu and Rebeca Samonà, the editorial staff of the Rai program outlined the scenario that the employees of the pharmaceutical company have been denouncing for three months now, namely that the crisis announced by the owners is not real, but linked to rounds of transfer pricing. In support of this hypothesis is the "Process report of findings", drawn up by the Revenue Agency as early as July 2010, which speaks of a transfer of value from one company of the group to another based abroad, perhaps where the tax burden is much lighter than in Italy. And Sigma Tau would have transferred this value to a Portuguese subsidiary, Defiante, a company that mainly deals with buying licenses and patents and then reselling them, based on the island of Madeira.
But were the transfer pricing determinations compliant with the transfer pricing regulations established by law? This is the question that the Inland Revenue inspectors asked themselves, who then recorded in the "Assessment report" that "Sigma Tau allegedly erroneously quantified (...) the income components deriving from transactions with various companies belonging to the same Group". The inspectors also quantified the lower revenues that Sigma Tau has accounted for in Italy at 11.55 million euros, or with the serious possibility that they have been evaded to the tax authorities. In short, Sigma Tau appears to have lower revenues, with assets decreasing from 123 to 34 million euros while, at the same time, Defiante increases its net assets, which go from 31 to 310 million euros. With the "small" detail that in Madeira taxes are very low, with rates, moreover recent, of a maximum of 3 %, while the VAT is 13 % against 21% in Italy. After these data were made public by Rai, Iacona made an appeal to Minister Passera, who knows the situation of Sigma Tau well, as banker at Banca Intesa, owner of 5% of Sigma Tau Finanziaria SpA. "Minister, before granting layoffs - concluded the journalistic investigation Iacona - look carefully at the cards". A suggestion that certainly won't be liked by everyone… And today comes yet another press release from the RSU, who have not given reasons to the press for the statements that we report in full, to give everyone the opportunity to get an idea of what is happening.
“We intend, with this press release, to underline some simple concepts – RSU Sigma Tau debut – The state of agitation and the strikes that we have been forced to declare for over a month now are nothing more than the consequence of decisions taken
