There may be a reason Mitt Romney went to Poland and not Italy on his foreign trip. Many Italians, in their view, consider him to be persona non grata for "cheating" the Italian government out of taxes. It raises new questions about U.S. taxes.
According to an article in Bloomberg NewsSunday, Italians say Bain Capital made about $1 billion profit in a deal and avoided paying taxes in Italy by funneling money through tax haven Luxembourg. Romney personally made $50 or $60 million on the deal.
Bloomberg reported that when Romney was CEO, Bain Capital made about $1 billion profit in a controversial leveraged buyout of a telephone-directory company from the Italian government. Bain sold it about two years later, at the peak of the technology bubble, for about 25 times what it paid.
http://www.examiner.com/article/new-charge-that-romney-s-bain-capital-avoided-italian-taxes-emerges
