Soccer: Spain, tax hike for star players as of 2015

47% for those earning more than 600,000. Not 24% anymore

24 June, 19:53

    Real Madrid's Cristiano Ronaldo Real Madrid's Cristiano Ronaldo

    (ANSAmed) - MADRID - Spain will not be a fiscal paradise for star soccer players anymore. Starting on 2015, foreign players will have to pay more taxes while up until now their fiscal duties were lighter in spite of huge revenues.

    The fiscal reform announced by the government provides for a change in the so-called Beckham law which since 2005 enabled foreign soccer players and athletes to pay a minimum 24% on income taxes. Under the reform, which will become effective in 2015, this percentage will apply only to salaries under 600,000 euros a year, while foreign soccer players in Spain earning more than that will have to pay 47% on their income. The new rule equals the position of non-residents to that of residents and will be applied to new contracts. (ANSAmed)

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