Ferrari denies move from Italy to the Netherlands

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TURIN (Reuters) -- Ferrari does not plan to move to the Netherlands, the company said today, denying Italian media reports.

"Ferrari has been based in Maranello [Italy] since 1947 and will remain there with its cars and its brand," the company said in a statement.

Ferrari's parent company Fiat Group said last month it would register the holding of its newly created Fiat Chrysler Automobiles group in the Netherlands and set its tax domicile in the UK.

Italian daily Il Giornale reported on Friday that the luxury carmaker would move its newly created merchandising company to the Netherlands or the UK.

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