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SBD Global/April 3, 2013/International Football
France Won't Exempt Football Clubs From 75% Tax On Salaries Above €1M
Published April 3, 2013
DOING THE MATH: BLOOMBERG's Gregory Viscusi reported "at least 12 members of the Paris team" make more than €1M a year. They include Ibrahimovic, €15M ($19.3M) a year, and Italian coach Carlo Ancelotti, at €12M ($15.4M). Former England captain David Beckham "would escape the tax because his five-month stint at PSG doesn’t qualify him as a French tax resident." President Francois Hollande made the 75% tax "a cornerstone of his successful presidential campaign last year, saying the wealthiest had to make a special contribution toward cutting France’s deficit." Many football players "would already be taxed at France’s top marginal rate" of 49%, which kicks in at €500,000 ($641,800) a year. Teams "would then pay a surcharge to bring the effective tax rate on salaries above" €1M to 75% (BLOOMBERG, 4/2).