Rome, Sept. 10 -- The chair of Ferrari and Stellantis has agreed to do one year of community service and jointly pay millions of euros to settle a dispute over inheritance tax in Italy.
John Elkann and his siblings Lapo and Ginerva will pay €183m (£159m) to Italian tax authorities, Italian prosecutors said, reports BBC citing multiple media reports.
Elkann's lawyer said the agreement did not include an admission of liability from the Ferrari chair and his siblings.
He said the prosecutors' decisions were an opportunity to bring "this painful affair to a swift and definitive close".
Elkann, a member of one of the most powerful families in Italy, is the grandson of Gianni Agnelli, the former boss of Fiat.
The tax dispute relat...