Dolce And Gabbana Get Jail Time For Tax Evasion

Dolce And Gabbana Get Jail Time For Tax EvasionItalian fashion designers Domenico Dolce and Stefano Gabbana have been sentenced to jail in Italy for one year and eight months for tax evasion. They were accused of hiding millions of euros from Italian tax authorities.

‘Deny the charges’

The pair, whose customers have included Madonna, Kate Moss and Kylie Minogue, were not at the trial, deny the charges and have appealed.

‘Royalties of around 1 billion euros’

The investigation by the Italian authorities began around six years ago as part of a government plan to crack down on tax avoidance. At the hearing on Wednesday, the judge ruled that the designers moved their brand to a Luxembourg-based holding company Gado – an anagram of their two surnames – in 2004. He said they had done this to avoid declaring taxes on royalties of around 1 billion euros (£833m; $1.3bn).

Prosecutors alleged they sold the business for well below actual market value.

Do you think Domenico Dolce and Stefano Gabbana are actually guilty of this tax evasion charge? How will this affect their fashion business? Feel free to share your thoughts and opinions regarding this latest issue. Let your voice be heard via the comment box below!

Source: BBC News

Image: Financial Post

Oreo Debuts Watermelon-Flavored Cookies

Oreo Debuts Watermelon-Flavored CookiesWatermelon in cookie form. The perfect summer food? Nabisco hopes Oreo purists and non-fans alike will be taking a bag of the new, limited edition fruit-flavored cookies to their next picnic.

‘New summer flavor’

The Watermelon Oreos, available only at Target (TGT) for $3 a package, feature a bright pink and green creme filling between two vanilla-flavored cookies; the creme bears a strong resemblance to Play-Doh. Two cookies contain 150 calories, 7 grams of fat and 21 grams of carbohydrates.

Food bloggers had plenty to say about the new summer flavor. JunkFoodGuy wrote that he was expecting an “awful fake watermelon smell to come wafting out” but there was none. “As soon as I bit into one of these Limited Edition Watermelon Golden Oreos, I got an immediate light watermelon taste. I’ll just say it right off the bat…I liked these. A LOT.”

‘It’s the subtlety’’s conclusion: “The vanilla cookies take up most of the space on the flavor profile pie chart. Seventy-five percent or so. But it’s the subtlety of the cream that makes the cookie work as a whole. Too much watermelon, and the effort would be a mess.”

Oreo itself has a history of limited-edition cookies, which has included gingerbread, candy corn, dulce de leche, birthday cake, Creamsicle, and Shure, Bert, another recent addition.

Have you tried the Watermelon Oreos? Whaddaya think — hit or miss?

Source:  Lisa Scherzer | The Exchange, Yahoo Finance

Image: The World’s Best Ever