Sunday, March 3, 2024

Italy’s ‘Beckham Law’ is coming to an end, which could have a huge impact on Serie A transfers

Must read


In Italy, the “Beckham Law” was abolished, much to the dismay of high-income earners in Italian soccer.

The law, officially known as the Cresita Decree, grants high earners from abroad a 50% discount on taxes.

‘Beckham’s Law’ removed from Italian soccerCredit: AFP

This law is considered an attractive lure to attract foreign football players to the Italian league.

However, this regulation was abolished after discussion at the Italian Council of Ministers.

This tax law was named “Beckham Law” because high-income foreign earners in Spain paid only 24% of their income tax during their first six years in Spain.

Beckham joined Real Madrid in 2003 and was one of the notable players to receive an early reprieve.

The changes will come as a shock to Serie A clubs, who have been critical of proposals to break the deal in recent months.

In November, AC Milan CEO Giorgio Furlani said: “Ending the benefits of the Cresita Decree would destroy Italian football.”

Lazio president Claudio Lotito added: [the government] they will realize their mistake. The state also does not receive money.

“Isn’t it better to attract foreigners who pay taxes to Italy than foreigners who don’t come and pay nothing? Our league will become uncompetitive!”

Rule changes could have a big impact on Serie A clubs

It remains to be seen how big an impact this rule change will have on Serie A’s fortunes, as Italian clubs already struggle to compete economically with clubs from England, Germany and France.



Source link

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article