Thread: Rossi Gets 35 Million Euro Tax Fee!

Originally Posted by Harakimi

Holy cow! Valentino Rossi has to pay 35M euros (50M usd) to Italian tax office. He got the "penalty" from years 2001-2004 and years 2005-06 will be added to that....

Does he live in Italy? Or is he obliged to pay taxes if he lives abroad?

That is of course a lot of money, even for Vale

He lives in London now. He couldn't go anywhere in Italy without being swarmed by crazed Tifosi's. I guess he felt he could live a more normal more private life in London. He didn't move there until '00 though (I think).

He has just settled with the Italian tax authorities and will hand over 19 million euros ($27.6 million) in unpaid tax for the years 2001-2004.

Valenito
I'm very happy with the way this difficult affair has turned out because I think I will be calmer now and that will help me to concentrate on my work..

For several reasons I've already decided to return to live in Italy. London is a very interesting city but spending more time with my family and friends has become a necessity for me given that due to my commitments on the (Moto GP) tour I spend more than half the year away from home.

I could not return if I had problems with the Italian tax authorities. I could not allow this to drag on either.

I've come to an agreement with the Tax Agency which will allow me to return calm and ready ahead of the new season.

The number could rise to what Harakimi already has stated, once his '05-'06 income comes into play.. He's pretty calm cool and collected if you ask me

Why didn't he move to Monaco (or at least put his address there) to avoid such taxes like most other european top sporters do ?

how does someone with so many managers and people working for him and his race team who pay him not get his tax right for 5 or whatever years?