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Old 08-08-2007, 11:46 AM   #1
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Rossi under investigation - Tax evasion LOL

Already facing the not-so-small small problem of how to overhaul Casey Stoner in the battle for the 2007 MotoGP title, Valentino Rossi could now find himself in trouble in the courts with reports that the Italian tax agency is investigating the Yamaha rider for suspected tax evasion.

Quoting an agency spokesperson, Reuters reports that the investigation is linked to the decision taken by Rossi to move to Britain back in 2000, a move that enabled the hugely popular Italian to make the most of favourable tax conditions compared to those found at home.

However, it could prove to be an expensive move, with the agency now examining possible tax evasion on undeclared revenues of more than $80 million between 2000 and 2004, when he stepped into the premier class of Grand Prix racing with Honda having already claimed world titles at both 125 and 250 levels
Should Rossi who has not made any comment on the possible charges be found guilty of deliberately evading paying taxes, he is likely to face a hefty fine.

More to follow as and when it becomes available...
http://www.crash.net/news_view~cid~6~id~152625.htm
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Old 08-08-2007, 11:51 AM   #2
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holy , 80 mill. in 4 years, I would love to have to pay taxes on 80Million dollars.
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Old 08-08-2007, 11:51 AM   #3
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So if someone moves from Italy to Britain in 2000, he still has to pay taxes in ITALY for money earned AFTER moving to Britain?

Is THAT what they are saying?????? I hope there's more to it than that, haha.
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Old 08-08-2007, 11:51 AM   #4
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wow that would be a hefty sum for sure and he could face criminal charges. That sux.
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Old 08-08-2007, 11:52 AM   #5
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Old 08-08-2007, 11:53 AM   #6
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Quote:
Originally Posted by CarbonR1 View Post
I would love to have to pay taxes on 80Million dollars.

+1
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Old 08-08-2007, 12:02 PM   #7
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holy , 80 mill. in 4 years, I would love to have to pay taxes on 80Million dollars.
Not easy to make 80 mills and when you do make this much it will be about 35-40 mills you have to pay.:BangHead:
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Old 08-08-2007, 12:03 PM   #8
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Not easy to make 80 mills and when you do make this much it will be about 35-40 mills you have to pay.:BangHead:
Which tax code are you reading?
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Old 08-08-2007, 12:39 PM   #9
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Originally Posted by level5 View Post
Not easy to make 80 mills and when you do make this much it will be about 35-40 mills you have to pay.:BangHead:
i would gladly pay half of 80 mill. in taxes in order to get the other half put in my bank account!
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Old 08-08-2007, 12:47 PM   #10
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Quote:
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i would gladly pay half of 80 mill. in taxes in order to get the other half put in my bank account!
Yeah but most of the times those 80 are already commited in something.
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Old 08-08-2007, 12:59 PM   #11
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Yeah but most of the times those 80 are already commited in something.
like french whores...
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Old 08-08-2007, 12:59 PM   #12
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HAHAHA... it does not matter what country you live in the tax man wants his money Fool should have paid up I hope that they stick it to him I hate peeps who do not want to pay their taxes
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Old 08-08-2007, 01:04 PM   #13
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HAHAHA... it does not matter what country you live in the tax man wants his money Fool should have paid up I hope that they stick it to him I hate peeps who do not want to pay their taxes

Not quite. That's why some people move to Monaco.

http://en.wikipedia.org/wiki/Monaco

"The State has no income tax for individuals. The lack of personal income tax has led to a considerable number of wealthy "tax refugee" residents from European countries, who earn the majority of their income from activity outside Monaco; celebrities such as Formula One drivers attract most of the attention, but the majority of them are business people."

Troy Bayliss and Capirossi live there. Although Italy claimed Loris didn't live there full time so taxed him anyway.. Big fight. hehe
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Old 08-08-2007, 01:07 PM   #14
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i would gladly pay half of 80 mill. in taxes in order to get the other half put in my bank account!
That's easy to say but when you are the one that is making it, it's hurts to pay out.
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Old 08-08-2007, 01:09 PM   #15
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No thats why peep's move to the Cayman Islands Trust me I know I deal with them everyday I work for them

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Not quite. That's why some people move to Monaco.

http://en.wikipedia.org/wiki/Monaco

"The State has no income tax for individuals. The lack of personal income tax has led to a considerable number of wealthy "tax refugee" residents from European countries, who earn the majority of their income from activity outside Monaco; celebrities such as Formula One drivers attract most of the attention, but the majority of them are business people."

Troy Bayliss and Capirossi live there. Although Italy claimed Loris didn't live there full time so taxed him anyway.. Big fight. hehe
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Old 08-08-2007, 01:22 PM   #16
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No thats why peep's move to the Cayman Islands Trust me I know I deal with them everyday I work for them

Yes. We're talking motorsports here. Trust me (<--- :dontknow: lol) they live in Monaco. :laughing6
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Old 08-08-2007, 01:23 PM   #17
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Quote:
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Yes. We're talking motorsports here. Trust me (<--- :dontknow: lol) they live in Monaco. :laughing6
Bwuauahahah :laughing6:laughing6:laughing6:laughing6
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Old 08-08-2007, 02:48 PM   #18
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Same thing has happened to every european athlete to move to Switzerland or Monaco (ask Michael Schumacher about his move, whcih probably saved him 25 to 30 million Euros per year in german taxes).

Most of them have been demosized by their local press and governments (including the best James Bond of all, Sean Connery for moving to Spain).

I don't think they should get away without paying taxes, but I also don't blame them for trying to protect their lively hood.

Most European countries have realy high tax rates, upward of 40 to 50%, so do the math....
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Old 08-08-2007, 03:06 PM   #19
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Quote:
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I don't think they should get away without paying taxes, but I also don't blame them for trying to protect their lively hood.

I agree IF they live in a country that requires taxes.
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