Porsche confirms cooperation with tax probe

Sunday, 03. March 2019 15:40

Porsche AG, unit of the Volkswagen Group, confirmed on Sunday it is currently aiding the investigation into alleged tax debts in Germany. According to the company, it is cooperating with German state prosecutors to probe the debts connected to taxable benefits of Porsche's former top management.

Meanwhile, German media reported earlier today that the local authorities visited the Porsche's premises in December 2018 to investigate the top executives' early retirement schemes and benefits, including private travel and parties.

The company said that it provided the prosecution with all documentation and launched its own internal tax compliance procedures while also working by external consultants on the issue.

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