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Old 02-11-2008, 06:30 AM   #1
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Rossi settles tax problem - with 20 million Euros

from UK press:
Quote:
Italian pays out to keep tax inspectors happy

VALENTINO Rossi is going to fork out around 20 million Euros as settlement for a huge tax bill from the Italian government.
The Italian tax agency made the headlines last year when it accused Rossi of skipping taxes on around 60 million Euros of income.

Bologna's Il Resto del Carlino paper quotes Rossi's lawyer Lucio Moinaco as saying: "I really think it's over. There will be a payment of 20 million euros. And Valentino will laugh, win, and take it as it comes again, and Italy will be his home.

"He suffered too much because of this story, a lot more than people can imagine. He is not a tax evader and the proof is in his decision to pay: he didn't want a war but a fair agreement."

Graziano Rossi, Valentino's father is reported in Corriere della Sera as saying: "Valentino's transaction with the tax office isn't closed yet. I know they are close to the end, but they aren't there yet.

"There's still at least another important meeting still to be held, after which we hope it's the last one, because I know that Valentino absolutely wants to get to the beginning of the season with the situation solved."

That final meeting is expected to happen next week, most likely on Tuesday.

That sorta might play on your mind a bit !!!!!!!!!!!!!!!!!!!!
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Old 02-11-2008, 02:54 PM   #2
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I've heard that the Italian government is pretty un-ethical regarding taxes and things with iconic superstars of sport or screen. Too bad, it almost sounds like extortion!
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Old 02-11-2008, 02:55 PM   #3
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Good for him... Now perhaps he can focus on winning?
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Old 02-11-2008, 03:09 PM   #4
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Quote:
Originally Posted by tomLSTD View Post
I've heard that the Italian government is pretty un-ethical regarding taxes and things with iconic superstars of sport or screen. Too bad, it almost sounds like extortion!
Italians involved in extortion? Surely you gest!
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Old 02-11-2008, 03:14 PM   #5
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Quote:
Originally Posted by Scorpio View Post
Italians involved in extortion? Surely you gest!
Yeah, I'm sure the Cosinostra got their greedy little paws in there...
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Old 02-11-2008, 04:19 PM   #6
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Nice, and "ONLY" 20mil euros. Rumor had it as high as 80. <-- haha.. like 20 wouldn't make me do the same.
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Old 02-11-2008, 04:53 PM   #7
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Quote:
Originally Posted by Scorpio View Post
Italians involved in extortion? Surely you gest!
You guys are so cynical ha ha
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Old 02-11-2008, 04:59 PM   #8
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Nice, and "ONLY" 20mil euros. Rumor had it as high as 80. <-- haha.. like 20 wouldn't make me do the same.
He's parted ways with his long time management company so perhaps that where the rest went
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Old 02-13-2008, 05:09 PM   #9
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I read he owed 150 million & they settled for 50.5 million
mercy

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Old 02-13-2008, 05:19 PM   #10
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Seems to depend on what you read

Quote:
GP legend 'very happy' with the way difficult saga turned out

Seven-time MotoGP champion, Valentino Rossi, has agreed to shell out over 35 million to the Italian government in unpaid tax.
The 28-year-old, from Tavullia on the Adriatic coast, will pay 19 million for tax owed during the period 2001-2004, however this figure could rise to as much as 35 million when earnings from 2005-06 are taken into account.

Rossi has been living in London since 2000, but the Italian government started chasing him for back-taxes in August last year. It is widely rumoured that the added pressure has taken its toll on the Italian's riding form in the world's toughest bike racing championship.

Today, Rossi released a statement outlining reasons for the swift resolution of this case:

"I'm very happy with the way this difficult affair has turned out because I will be calmer now and that will help me to concentrate on my work. Also, having enjoyed living in London for 7 years, I want to return to live in Italy and this would not be possible if I had problems with the Italian tax authorities. I could not allow this to drag on either. I've come to an agreement with the Tax Agency which will allow me to return calm and ready ahead of the new season."
What's a few million between friends ??
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