MM is changing teams

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andrebt
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MM is changing teams

Post by andrebt »

as in apparently moving out of spain...

http://blackflag.jalopnik.com/spaniards ... 702/+damon

my take...he should move here to florida as you have many other athletes out there who are moving here for the very reason..

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Squidpuppet
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Re: MM is changing teams

Post by Squidpuppet »

andrebt wrote:as in apparently moving out of spain...

http://blackflag.jalopnik.com/spaniards ... 702/+damon

my take...he should move here to florida as you have many other athletes out there who are moving here for the very reason..
Why would a wealthy person move to the US for tax reasons? He's get hammered for 50%.

Moving to Andorra does him no good until 2020.
New residents who were previously resident in Spain are treated by the Spanish tax authorities as tax resident in Spain for five tax-years after their emigration to Andorra.
http://en.wikipedia.org/wiki/Taxation_in_Andorra

andrebt
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Re: MM is changing teams

Post by andrebt »

Squidpuppet wrote:
andrebt wrote:as in apparently moving out of spain...

http://blackflag.jalopnik.com/spaniards ... 702/+damon

my take...he should move here to florida as you have many other athletes out there who are moving here for the very reason..
Why would a wealthy person move to the US for tax reasons? He's get hammered for 50%.

Moving to Andorra does him no good until 2020.
New residents who were previously resident in Spain are treated by the Spanish tax authorities as tax resident in Spain for five tax-years after their emigration to Andorra.
http://en.wikipedia.org/wiki/Taxation_in_Andorra
I'm aware of Andorra's taxation, but this pretty much explain why athletes have pouring into places like Texas and Florida to live:

http://en.wikipedia.org/wiki/Jock_tax

http://www.wsj.com/articles/SB100014241 ... 0345831462

Interestingly though I read somewhere that Biaggi lives part of the year in LA.

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Squidpuppet
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Re: MM is changing teams

Post by Squidpuppet »

andrebt wrote: my take...he should move here to florida as you have many other athletes out there who are moving here for the very reason..
I still don't understand your point. If MM moves to the US, he will be in the 50% Federal bracket. In Andorra he will pay ZERO.

andrebt
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Re: MM is changing teams

Post by andrebt »

apparently Marc has responded to accusations his move to andorra has to with dodging taxes:

http://www.motogp.com/en/news/2015/marc ... to+Andorra

My take, personally I don't think Marc owes anybody an explaination as to why he wants to move to andorra as you would find many other athletes and celebrities who move to certain places due to taxes. Look at Lebron for instance..it wasn't just the fact that cleveland was an uncompetitive team that forced his switch to Miami, but by moving to florida he was getting a huge tax break as the state doesn't tax income. In fact its whole reason why you have athletes the world moving into places like texas, florida and north carolina.

speaking of taxes it has become obvious to me why we probably won't Laguna back on the calander for a long time...by going to texas and indianapolis Dorna technically is getting nice tax write-off. Its same deal with NASCAR, F1 and Indycar.

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Re: MM is changing teams

Post by AntG »

I've never understood the moving for tax reasons, in the past yes because I believe F1 drivers and the like were hit with 90% income tax back in the 70's in the UK at least but not now, I think its now 45%(no idea what Spain is) so say you earn 20 million a year, you've still got over 10 million after tax and at the end of a 10 year career that's over 100 million plus you're still earning when you're retired with the interest continuing to make money. Or if you've got a good accountant you can stay in your home country and pay a lower rate.

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Kropotkin
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Re: MM is changing teams

Post by Kropotkin »

There are lots of poor racers who used to be rich. Not one of them was reduced to penury by the tax man. Most of them either blew threw their money, made terrible investments, or the largest proportion, were robbed by their managers.
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Hanuman
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Re: MM is changing teams

Post by Hanuman »

andrebt wrote:
My take, personally I don't think Marc owes anybody an explaination as to why he wants to move to andorra
Well, Lorenzo copped it in Spain for that footage of his lavish mansion, but at least that's in the environs of Barcelona...Marquez' age group has an unemployment rate of 50%...so he needs to be sensitive to that...

andrebt
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Re: MM is changing teams

Post by andrebt »

Hanuman wrote:
andrebt wrote:
My take, personally I don't think Marc owes anybody an explaination as to why he wants to move to andorra
Well, Lorenzo copped it in Spain for that footage of his lavish mansion, but at least that's in the environs of Barcelona...Marquez' age group has an unemployment rate of 50%...so he needs to be sensitive to that...
no, no. the point I'm trying to make is that MM situation seem very much like that of phil mickelson where he also criticised for issue regarding taxes...here:

http://www.wsj.com/articles/SB100014241 ... 0345831462

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Kropotkin
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Re: MM is changing teams

Post by Kropotkin »

andrebt wrote: no, no. the point I'm trying to make is that MM situation seem very much like that of phil mickelson where he also criticised for issue regarding taxes...here:

http://www.wsj.com/articles/SB100014241 ... 0345831462
The difference between a US athlete moving to Florida and motorcycle racers moving to Andorra is that Andorra is a separate nation. It is more like Phil Mickelson moving to the Bahamas, and paying tax to a foreign nation, than moving to the US, where taxation ends up with the same government.
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AntG
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Re: MM is changing teams

Post by AntG »

How exactly does the tax issue work with MotoGP because F1 champion Lewis Hamilton recently said in defence of tax dodging accusations that he has to pay taxes in several countries because he races in several countries does MotoGP follow a similar model?

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Grahluk
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Re: MM is changing teams

Post by Grahluk »

A bigger question, one far beyond the means of a single sportsman to answer is for the countries they come from. Maybe their home countries should look at why they chase away their own citizens who achieve success?

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Kropotkin
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Re: MM is changing teams

Post by Kropotkin »

Grahluk wrote:A bigger question, one far beyond the means of a single sportsman to answer is for the countries they come from. Maybe their home countries should look at why they chase away their own citizens who achieve success?
Progressive taxation. You could make exactly the same argument for any high-paid person fleeing taxation, including bankers, accountants, businesspeople, etc.

The players of Real Madrid or FC Barcelona don't live in Andorra, though. So it is quite possible to live somewhere and pay high taxes without being reduced to penury.
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AntG
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Re: MM is changing teams

Post by AntG »

I'm not sure if the Spanish sides do the same but English clubs pay the players income tax bills for them so when the papers say so and so is on 300 grand a week that's what he's taking home.

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Tourn46
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Re: MM is changing teams

Post by Tourn46 »

AntG wrote:I'm not sure if the Spanish sides do the same but English clubs pay the players income tax bills for them so when the papers say so and so is on 300 grand a week that's what he's taking home.
Well, technically that's how any salary works in the UK. The employer pays the PAYE and NIC on behalf of the employee and the employee has the amount they take home, it is not that the clubs are paying for them as such, it's just reported in the papers what their net salary is, rather than their gross salary.

I know this is perhaps nit picking (I am an accountant btw), but they are not treated in a special way.

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Re: MM is changing teams

Post by Squidpuppet »

Tourn46 wrote:
AntG wrote:I'm not sure if the Spanish sides do the same but English clubs pay the players income tax bills for them so when the papers say so and so is on 300 grand a week that's what he's taking home.
Well, technically that's how any salary works in the UK. The employer pays the PAYE and NIC on behalf of the employee and the employee has the amount they take home, it is not that the clubs are paying for them as such, it's just reported in the papers what their net salary is, rather than their gross salary.

I know this is perhaps nit picking (I am an accountant btw), but they are not treated in a special way.
Interesting. The teams and papers here in the States do the opposite. It's only the gross that is ever discussed. Here, nobody other than the employee and the Internal Rvenue Service would ever know the actual net.

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Re: MM is changing teams

Post by Rossifumi »

It's Wayne Rooney who's recently signed a £300,000/week contract but that is gross, he has to pay tax on it…..left with a mere £160,000/week!
http://www.bbc.co.uk/sport/0/football/26246939
I'm pretty sure what we get quoted in the press in the UK are gross salaries, not least because it's a bigger number and makes a better story.

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Tourn46
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Re: MM is changing teams

Post by Tourn46 »

Rossifumi wrote:It's Wayne Rooney who's recently signed a £300,000/week contract but that is gross, he has to pay tax on it…..left with a mere £160,000/week!
http://www.bbc.co.uk/sport/0/football/26246939
I'm pretty sure what we get quoted in the press in the UK are gross salaries, not least because it's a bigger number and makes a better story.
Either way, their tax is paid on the same principle as anyone else.

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MiniNinjaMk5
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Re: MM is changing teams

Post by MiniNinjaMk5 »

Liked your article in Bikesport News Krop, completely agree with it.

Nice what MM is doing as well during such hard and sensitive times in Spain.

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Squidpuppet
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Re: MM is changing teams

Post by Squidpuppet »

MiniNinjaMk5 wrote:Liked your article in Bikesport News Krop, completely agree with it.

Nice what MM is doing as well during such hard and sensitive times in Spain.

Got a link for that please? I looked and can't find it. :oops:

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Re: MM is changing teams

Post by Cobbett »

Squidpuppet wrote:
MiniNinjaMk5 wrote:Liked your article in Bikesport News Krop, completely agree with it.

Nice what MM is doing as well during such hard and sensitive times in Spain.
Got a link for that please? I looked and can't find it. :oops:
(I think it's a reference to the column which DE has in the hard-copy magazine which BSN publish - I've not seen that online.)

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Squidpuppet
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Re: MM is changing teams

Post by Squidpuppet »

Cobbett wrote:
Squidpuppet wrote:
MiniNinjaMk5 wrote:Liked your article in Bikesport News Krop, completely agree with it.

Nice what MM is doing as well during such hard and sensitive times in Spain.
Got a link for that please? I looked and can't find it. :oops:
(I think it's a reference to the column which DE has in the hard-copy magazine which BSN publish - I've not seen that online.)
ThanK you.

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speeddog
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Re: MM is changing teams

Post by speeddog »

I suspect that today is the Spanish equivalent of April Fools Day:

http://www.motoworld.es/deporte/motogp/ ... e-man.html

That's a really good one!

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Kropotkin
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Re: MM is changing teams

Post by Kropotkin »

speeddog wrote:I suspect that today is the Spanish equivalent of April Fools Day:

http://www.motoworld.es/deporte/motogp/ ... e-man.html

That's a really good one!
28th December is the Dia de los Innocentes, which is, as you rightly pointed out, the Spanish equivalent of April Fool's Day. And yes, I really liked that one as well, very well done indeed...
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andrebt
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Re: MM is changing teams

Post by andrebt »

Hanuman wrote:
andrebt wrote:
My take, personally I don't think Marc owes anybody an explaination as to why he wants to move to andorra
Marquez' age group has an unemployment rate of 50%...so he needs to be sensitive to that...
its interesting that you mention spain's unemployment rate, but am no economist but I do understand alot about economics to know that Spain(like most other european countries, the exception being germany) has been its own worst enemy given its years of terrible economic policies. The same can be said about that of Japan.

As for marquez's age group, its no different here in the states. In fact I would say that millennials here in the states are just as screwed as those in spain/europe.

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