French Sports Stars Not Exempt in New Tax Rules

September 11, 2012

Sports stars will have to follow a new tax rule in France taking 75% tax on those earning more than €1 million ($1.3m) a year

Francois Hollande, the president of France, has said there will be no exceptions to his 75% tax rule.

After reports had suggested that high-earning athletes and artists could be exempted from the tax, Hollande told French television channel TF1 it would be applied to everyone of a certain level of wealth.

He said: “It’s very important that those who are paid more than €1 million are also aware that it should be an example to be a patriot. We have to call on patriotism at this time.”

It is believed that around 25 people at Paris St Germain – whose star summer signing, Zlatan Ibrahimovic, is reported to be on around €14 million a year – would be affected.

Others in French football reported to be liable for the new tax include Thiago Silva, Yoann Gourcuff, Ezequiel Lavezzi, Michel Bastos, Lisandro Lopez, Diego Lugano, Thiago Motta and Joey Barton.

“This law has been known about for several months, and we respect the laws of the French government,” Nasser Al-Khelaifi, the PSG president, said. “We love France, we respect the regulations, we have no problem with that. We can’t change anything.”

A government spokesman predicted that up to 3,000 people in France would be paying the 74% tax, which is part of measures intended to raise €20 million ($25.6m) in new revenues.