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Britain urged to amend tax law
Source: Agencies |
November 25, 2011, Friday
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THE head of British tennis is hopeful that a change in tax laws will stop international stars like Rafael Nadal and Usain Bolt from turning their backs on Britain.
Nadal has chosen not to compete at the pre-Wimbledon Queen's tournament next year because he will "lose money," while Olympic champion Bolt does not compete in Britain because of the law.
Overseas athletes are taxed on prize money and appearance fees in Britain, and also on a portion of their worldwide endorsement earnings.
Chief executive Roger Draper said on Wednesday that the Lawn Tennis Association is lobbying the government for a tax exemption to be included in the next budget statement in March.
"The government are taking it seriously and we are very hopeful, but there are no guarantees," Draper said.
A tax exemption could help London's O2 Arena extend its hosting rights for the season-ending ATP World Tour Finals beyond 2013.
"It's a question of getting the right time to sit down with the ATP to have discussions," Draper said. "The player tax issue has got in the way and we want to have that issue out of the way."
The government has so far only granted exemptions on an event-by-event basis, such as for the 2011 Champions League final at Wembley and next year's London Olympics.
The tax law was implemented after Britain's tax authority won a landmark case against Andre Agassi in 2006.
He was ordered to pay tax on a portion of the money paid to him by Nike and Head because he endorsed their products at Wimbledon and other events in Britain.
Nadal has chosen not to compete at the pre-Wimbledon Queen's tournament next year because he will "lose money," while Olympic champion Bolt does not compete in Britain because of the law.
Overseas athletes are taxed on prize money and appearance fees in Britain, and also on a portion of their worldwide endorsement earnings.
Chief executive Roger Draper said on Wednesday that the Lawn Tennis Association is lobbying the government for a tax exemption to be included in the next budget statement in March.
"The government are taking it seriously and we are very hopeful, but there are no guarantees," Draper said.
A tax exemption could help London's O2 Arena extend its hosting rights for the season-ending ATP World Tour Finals beyond 2013.
"It's a question of getting the right time to sit down with the ATP to have discussions," Draper said. "The player tax issue has got in the way and we want to have that issue out of the way."
The government has so far only granted exemptions on an event-by-event basis, such as for the 2011 Champions League final at Wembley and next year's London Olympics.
The tax law was implemented after Britain's tax authority won a landmark case against Andre Agassi in 2006.
He was ordered to pay tax on a portion of the money paid to him by Nike and Head because he endorsed their products at Wimbledon and other events in Britain.
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