9/11/2013

France: Trying to figure out a way of exempting soccer clubs from having to pay the 75% income tax for their best players

The UK telegraph has the back-and-forth on how to get around the tax for the soccer teams available here.  The funny thing is that everyone in France understands how the high tax will drive out the best soccer players, but they seem unwilling to accept that it will drive away the best businessmen.  

Pierre Moscovici spoke after warnings from the head of France'sprofessional football league, Frédéric Thiriez that the "crazy tax" would see France "lose its best players" and cost first division teams 182 million euros (£154 million).
"We are looking at different views on this issue, but it's true that we have football clubs which are in a fragile financial state," he said.
The 75 per cent tax – a key electoral promise of President François Hollande – has already sent several Gallic public figures, including star actor Gérard Depardieu, running for fiscal cover. . . .

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