Post by account_disabled on Mar 8, 2024 21:45:05 GMT -6
It was analyzed whether our tax system, as currently configured, is competitive with the tax regimes of other jurisdictions from the point of view of taxation applicable to professional athletes" 22 February, 2024 Fiscal, News, Summaries And Proposals Fide On February 8 Fide held the session “Football Taxation in Spain: controversial issues and competitiveness”, framed within the Taxation and Economic Activity Forum. Marta Sol Cobo, Fiscal Manager of LALIGA, and Felix Plaza Romero, partner of the Tax Law Department of Garrigues and director of the Sports and Entertainment Law Department, served as speakers and Anthony Bridges Moreno, partner in the Tax Litigation Department of BDO Spain, served as moderator. during session It was analyzed whether our tax system, as currently configured, is competitive with the tax regimes of other jurisdictions from the point of view of taxation applicable to professional athletes. The appearance of sports competitions in other countries with little or no taxation, or the implementation of special taxation systems by other jurisdictions to attract the best players in the world, together with the multiple tax controversies that occur in Spain around to clubs and players, make it necessary to update and update this matter.
Tax residence, application of withholdings on player transfer operations, image rights are some of the many issues that were analyzed. The session began with a comparative analysis between the taxation applicable in Spanish LALIGA and that applicable in the other major European leagues, considered competitors of LALIGA (England, France, Italy and Germany). Four aspects were analyzed for their particular relevance: types of applicable taxes, existence of impatriate regimes, tax treatment applicable to international transfers of players and taxation applicable to payments to footballers' agents. Regarding the types USA Phone Number of applicable taxes, Professional footballers who compete in Spain lose around of their income must be used to pay taxes, while, In the other leagues, except in Germany where a significant percentage is also lost in tax payments, they suffer a much less aggressive tax. As an example, if a footballer earns euros gross, in Spain euros would go to the public coffers, while in Italy, France or Germany that figure would not reach euros. He then became aware of the impatriate regimes implemented in other jurisdictions.
While In Spain, since 2014, this regime is not applicable to professional athletes, The regime applicable in France, meeting a series of requirements, allows both the so-called “impatriation bonus”, such as income obtained from activities carried out abroad. In it caso of England, despite the absence of an impatriate regime as such, can take advantage of the split year rule and remittance basis. La split year rule is that, once the status of tax resident in the United Kingdom is acquired, taxes would only be paid on the income obtained from that moment on, while the salary received previously would remain tax-free in the United Kingdom. For its part, the remmitance basis, exempts tax residents in the United Kingdom, but not domiciled, from paying tax in the United Kingdom on income generated abroad as long as it is not “remitted” to the United Kingdom. In Italy, for their part, they have a regime that allows Income with foreign origin is subject to a fixed tax of 100.000 euros if certain requirements are met. Once again, Spain and Germany are left behind, as they do not have any impatriate regime applicable to professional athletes.
Tax residence, application of withholdings on player transfer operations, image rights are some of the many issues that were analyzed. The session began with a comparative analysis between the taxation applicable in Spanish LALIGA and that applicable in the other major European leagues, considered competitors of LALIGA (England, France, Italy and Germany). Four aspects were analyzed for their particular relevance: types of applicable taxes, existence of impatriate regimes, tax treatment applicable to international transfers of players and taxation applicable to payments to footballers' agents. Regarding the types USA Phone Number of applicable taxes, Professional footballers who compete in Spain lose around of their income must be used to pay taxes, while, In the other leagues, except in Germany where a significant percentage is also lost in tax payments, they suffer a much less aggressive tax. As an example, if a footballer earns euros gross, in Spain euros would go to the public coffers, while in Italy, France or Germany that figure would not reach euros. He then became aware of the impatriate regimes implemented in other jurisdictions.
While In Spain, since 2014, this regime is not applicable to professional athletes, The regime applicable in France, meeting a series of requirements, allows both the so-called “impatriation bonus”, such as income obtained from activities carried out abroad. In it caso of England, despite the absence of an impatriate regime as such, can take advantage of the split year rule and remittance basis. La split year rule is that, once the status of tax resident in the United Kingdom is acquired, taxes would only be paid on the income obtained from that moment on, while the salary received previously would remain tax-free in the United Kingdom. For its part, the remmitance basis, exempts tax residents in the United Kingdom, but not domiciled, from paying tax in the United Kingdom on income generated abroad as long as it is not “remitted” to the United Kingdom. In Italy, for their part, they have a regime that allows Income with foreign origin is subject to a fixed tax of 100.000 euros if certain requirements are met. Once again, Spain and Germany are left behind, as they do not have any impatriate regime applicable to professional athletes.