Adidas headquarters raided in years-long tax investigation, company says
AUTHORITIES raided Adidas AG headquarters in Germany as part of a years-long tax investigation, a spokesperson from the company said on Tuesday.
Adidas said in a statement it has been in contact with customs authorities for several years about the matter and is providing them with documents and information.
The raid was first reported by Germany’s Manager Magazin.
The investigation covers the period from October 2019 to August 2024 and is related to compliance with customs and tax regulations regarding the import of products into Germany, the company said, adding it was cooperating with authorities.
The company said it continues to work closely with customs authorities to clarify questions that have also arisen due to different interpretations of German and European law.
“The company does not expect a significant financial impact in connection with the investigation,” Adidas said in a statement. REUTERS
Share with us your feedback on BT's products and services
Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.
More Fashion
LEESA ROWLAND From Hollywood to the Unknown: The Producer, Writer, Actress and Model Creating Her Own Next Chapter
Leesa Rowland has never been defined by just one role. Actress. Model. Writer. Producer. Author. Creative visionary. Philanthropist. Each title represents a different part of a career…
The Rise of Trevor Dutch: Strength, Style and Substance
From New York City to Europe’s Fashion Capitals, Trevor Dutch Is Bringing Strength, Sophistication, and Individuality to Every Frame In a city that never slows down, Trevor Dutch has…
Commentary: This year's Met Gala proved one thing: The real devil who wears Prada is Jeff Bezos
Apparently not content with bankrupting Sears, Toys R Us, Radio Shack and countless other businesses; buying and then maiming the Washington Post; and leading the Tech Bro right turn to…
Bald eagle 'massaging' its mate? AI deepfakes collide with the laws of the wild
Shadow gingerly places one taloned foot, then the other, on Jackie as she hunkers down on the nest. With Big Bear Lake glittering in the distance, he raises each foot in a kneading motion…