Vestas Is Under Investigation in Italy for Alleged Tax Fraud
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Vestas Wind Systems A/S, the world’s biggest wind turbine maker, said it’s being investigated by Italian authorities for allegedly defrauding the government of 342 million kroner ($63.5 million) in taxes.
The Randers, Denmark-based company hasn’t done anything illegal, and the investigation results from a “misunderstanding,” Peter Kruse, Vestas’ head of investor relations, said by phone today. At issue is Vestas’ handling of turbine parts intended for export, he said.