how do they figure that? if he makes 10 mil a year and say 20 years even. that's still more than 50%? Unless he makes 10mil racing and another 50mil or more doing ads and shit in Europe?
Rossi's Tax Bill To Top $120 Million?!
OUCH
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:shock
Valentino Rossi's tax saga appears to be on its way to some sort of conclusion. Rossi and the Italian tax authorities are trying to work out a deal and Rossi is no longer making fun of the situation; he's said that if it is decided he owes back taxes that he will pay them.
Hopefully he has the funds to do so.
While an international superstar like Rossi, one of the highest paid racers in the world, earns several tens of millions every year, one can only wonder if he has enough in his checking account to pay a 'worst case scenario' tax bill.
The amount that the Italian tax authorities feel that Rossi owes? A jaw-dropping 120 million Euro (or in today's global economy: an eyeballs rolling in head like a juiced slot machine $175 million US dollars).
Valentino Rossi's tax saga appears to be on its way to some sort of conclusion. Rossi and the Italian tax authorities are trying to work out a deal and Rossi is no longer making fun of the situation; he's said that if it is decided he owes back taxes that he will pay them.
Hopefully he has the funds to do so.
While an international superstar like Rossi, one of the highest paid racers in the world, earns several tens of millions every year, one can only wonder if he has enough in his checking account to pay a 'worst case scenario' tax bill.
The amount that the Italian tax authorities feel that Rossi owes? A jaw-dropping 120 million Euro (or in today's global economy: an eyeballs rolling in head like a juiced slot machine $175 million US dollars).
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i think jordan in his prime was the highest paid and he was "only" pulling in around 50m-60m/year. 25m was from his yearly salary and the rest was from "Jordan" brand everythingmotomummy said:
With regard to Val, I believe they settled on 40 Million...
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lil gay are we?TrackStar1 said:
I guess he will never forget to pay-off the Mob again
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Valentino Rossi pays €19 million (US$27.6 million) to settle tax dispute.
PESARO, Italy: Seven-time motorcycling world champion Valentino Rossi paid about €19 million (US$27.6 million) Tuesday to settle a dispute with Italian tax authorities, news reports said.
The figure could rise to €35 million (US$50.9 million) when his 2005-06 earnings are also taken into consideration, the ANSA news agency reported.
"I'm much more serene now. Everything is much clearer, and I can concentrate on my work," Rossi said in a televised news conference after exiting the tax agency in his hometown.
Italy's tax agency announced in August that it was investigating Rossi - the country's highest paid athlete - for possible undeclared earnings of €60 million (US$87.3 million) from 2000-04.
The agency said Rossi, who has been a British resident since 2000, allegedly did not declare revenues from sponsors and his team to either British or Italian authorities during that period.
http://www.iht.com/articles/2008/02/17/sports/soccereuro17.php
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Rossi has said his accountants assured him that he had complied with the law.
"I reached a fork in the road," Rossi said. "I could have fought this - and I could have won or lost - but it would have taken a very long time."
Rossi added that he has decided to live in Italy again.
"London is a very interesting city, but spending more time with my family and my friends has become of greater importance considering all my affairs around the world," Rossi said, adding that he would declare his taxes for 2007 in Italy.
http://www.iht.com/articles/ap/2008/02/12/sports/EU-SPT-MOT-Rossi-Taxes.php
PESARO, Italy: Seven-time motorcycling world champion Valentino Rossi paid about €19 million (US$27.6 million) Tuesday to settle a dispute with Italian tax authorities, news reports said.
The figure could rise to €35 million (US$50.9 million) when his 2005-06 earnings are also taken into consideration, the ANSA news agency reported.
"I'm much more serene now. Everything is much clearer, and I can concentrate on my work," Rossi said in a televised news conference after exiting the tax agency in his hometown.
Italy's tax agency announced in August that it was investigating Rossi - the country's highest paid athlete - for possible undeclared earnings of €60 million (US$87.3 million) from 2000-04.
The agency said Rossi, who has been a British resident since 2000, allegedly did not declare revenues from sponsors and his team to either British or Italian authorities during that period.
http://www.iht.com/articles/2008/02/17/sports/soccereuro17.php
Rossi has said his accountants assured him that he had complied with the law.
"I reached a fork in the road," Rossi said. "I could have fought this - and I could have won or lost - but it would have taken a very long time."
Rossi added that he has decided to live in Italy again.
"London is a very interesting city, but spending more time with my family and my friends has become of greater importance considering all my affairs around the world," Rossi said, adding that he would declare his taxes for 2007 in Italy.
http://www.iht.com/articles/ap/2008/02/12/sports/EU-SPT-MOT-Rossi-Taxes.php
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