Now here’s a news that is as short as it is funny (except to those directly involved).

Euro 2008 organisers have resolved an argument with tax authorities in Switzerland, by agreeing that players involved in the tournament should be taxed at source. In a statement released on Friday, the organisers said players would be taxed a flat rate of 20% on any prize money passed on to them by their national associations. The rule will not be applied to coaches, association officials or other non-playing delegates.

European soccer body UEFA had argued that the players should only pay taxes in their home countries, while the Swiss authorities had called for taxes to be levied locally at rates set by the individual host cantons. Under the agreement, UEFA will now withhold part of the prize money awarded to the various associations, who will then have to provide details on the payouts given to each player before receiving any money left over.

The flat rate tax will be applied to all players whether they play their matches in Switzerland or in co-hosting Austria. The statement did not say whether players would still be expected to pay additional tax back home, or if they would pay more tax in total as a result of the agreement. Organizers said the deal would involve an estimated total taxation of between 4 and 8 million Swiss francs ($3.6-7.1m dollars, or €2.4-4.8m Euros).

I guess all that is left for the players to do is emigrate to Patagonia, like Florent Pagny (sorry, I guess only French people will get that one).

Posted in Euro 2008, World News |

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