France to Apply 75% Tax to Soccer Players’ Compensation -
http://www.businessweek....er-players-compensation
Quote:Paris St. Germain, France’s richest soccer club, will have more on its agenda than controlling Lionel Messi when it takes on Barcelona, the world’s best team, tonight.
PSG’s Qatari owners also have the tax man to think about. After conflicting messages by government officials, Prime Minister Jean-Marc Ayrault’s office issued a statement today confirming that a 75 percent surcharge on salaries above 1 million euros ($1.3 million) will apply to soccer clubs.
“This new tax will cost first-division teams 82 million euros,” France’s Football League said in a statement. “With these crazy labor costs, France will lose its best players, our clubs will see their competitiveness in Europe decline, and the government will lose its best taxpayers.”
Definitely a Napolean will happen in France and very soon... Anyway I'm happy euroland land gubberments are well cornered and they're just helping the expected capital flight to happen.
This wealth transfer should be the new focus for developing nations as it'll be greater than export revenues!!! Most of these economies are still on the first step of the stairs flight. #Nairobi financial hub with a spiced up Konza city then add the hydrocarbons mix. Waiting for the SWF wealth effect...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!