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New rules to relieve Spanish football clubs’ tax debt

By  |  April 25, 2012
New rules to relieve Spanish football clubs’ tax debt

The Spanish government and the football league have agreed upon rules that provide a “road map” to reduce clubs’ tax debt. Spain’s top football clubs owe about 750 million euros to tax authorities, and 600 million is also owed to the social security system. The European Commission is investigating the tax situation to see if clubs received illegal state aid to help ease their tax burdens.

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    The new rules require clubs to set aside 35 percent of revenue to go toward paying off taxes, from the 2014-2015 season onward. Clubs that do not comply with the rules could be barred from competing. Further sanctions call for removing directors of the league and withholding income from lottery sales.

    Full content: Reuters via Chicago Tribune

     

    Related content: Competition Policy, Bailouts, and the Economic Crisis (Bruce Lyons, ESRC Centre for Competition Policy)

     

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