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Italy confiscates 779 million euros in assets of Abiying, alleging that it has not paid withholding tax

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On November 6th, the prosecutor's office in Milan, Italy, issued a statement stating that Abioying had not paid Italy a 21% withholding tax owed on rental income of approximately 3.7 billion euros and had confiscated nearly 779 million euros (approximately 835 million US dollars) of its assets.
The Italian prosecutor stated that three individuals who held management positions in Abiying from 2017 to 2021 (i.e. during the suspected violation period) are under investigation.
A spokesperson for Aibiying stated in a statement that European employees have been actively discussing with Italian tax authorities since June to address the aforementioned issues. "We are surprised and disappointed by the actions announced by the Italian prosecutor, and we believe that our actions are fully legal and plan to exercise our rights in this matter.
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