French Lawmakers Propose Law To Introduce 5% Tax On Player Transfers
A law looking to introduce a 5% tax on transfers of "sporting professionals" has been proposed in France's National Assembly, according to L'ÉQUIPE. The law's goal is to fund the country's National Center for the Development of Sport (CNDS). The text stipulates that from August 1, 2018, transfers are subject to a 5% tax to be given to the CNDS "with the obligation of sharing it with amateur sports clubs." The tax would be due to come "from an amount defined by a decree” and would be applied equally to domestic transfers and to those between French and foreign clubs. The law's author, Deputy Michel Zumkeller, said he was not yielding to the "Neymar effect," adding that he proposed a similar law in '15. Zumkeller: "The idea is to tax the most important transfers, not the €2 to €3 million ($2.3M-$3.5M) ones. When a club buys a €100 million ($118M) player, it could give five more [million] for amateur sport" (L'ÉQUIPE, 10/16).