CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Italian Soccer Clubs Renew Tax Protocol

Italian Soccer Clubs Renew Tax Protocol

by Ulrika Lomas,, Brussels

07 March 2014

The Italian Revenue Agency has signed a protocol with the Italian national soccer federation (FIGC), which will renew regulation and control over the tax affairs and fiscal compliance of the professional clubs within the federation's ambit.

The agreement, which was first underwritten in 2008, runs for a further period of one year to February 28, 2015, after which both sides can determine whether to renew their "teamwork" for a further period.

Both parties have agreed to the open exchange of all of the information necessary for the tax authority to verify that the clubs are respecting their tax obligations.

Firstly, the FIGC will provide a list to the Revenue Agency of the professional clubs' corporate details, together with their tax and value-added tax (VAT) codes. Subsequently, by April 30, 2014, the Revenue Agency will provide to the federation the results of the clubs' annual tax assessments for national and regional corporate income tax and VAT, and of individual income tax for their players, in respect of the years between 2007 and 2011.

In addition, the Revenue Agency will check that the clubs have made the proper tax payments resulting from their annual VAT declarations, due by March 31 this year; have presented their tax returns for the tax year, which ended on December 31, 2012; and confirm that their tax payments are up to date. The agreement also contains a privacy clause to guarantee confidentiality.

It was stated that, "thanks to this collaboration, it is hoped to stem the incidence of tax evasion and avoidance in sport."

In June last year, despite the existence of the previous protocol, Italy's financial police, the Guardia di Finanza, searched the premises of 41 soccer clubs, to examine, for example, the various ways in which footballers are transferred and the intermediation activities of their agents. In particular, the investigation probed the tax treatment of transactions structured to occur abroad that in fact took place in Italy.

TAGS: individuals | compliance | tax | business | value added tax (VAT) | tax compliance | corporation tax | tax authority | sportsmen | Italy | regulation | individual income tax

To see today's news, click here.


Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »

Stay Updated

Please enter your email address to join the mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.

To manage your mailing list preferences, please click here »