The tax claim against Valentino Rossi, the motorcycling champion, has risen to £75m. This is made up of £40m in unpaid taxes as well as a fine and interest.
The seven-time world champion is being sued for the money by the Italian tax authorities as part of a massive government crackdown on tax avoidance.
Aug 08, 2007
Champion motorcyclist Valentino Rossi is under investigation by the Italian tax authorities for alleged evasion of €60m in taxes between 2000 and 2004. The alleged offence is said to have occurred after he acquired the status of “resident but not domiciled” in the UK in March 2000.
Aug 08, 2007
Valentino Rossi’s MotoGP world title fight with Casey Stoner might be the least of his problems as the Fiat Yamaha rider is under investigation by Italy’s authorities for tax evasion, according to reports in his home country.
A probe has been launched over suspected tax evasion, with the investigation focusing on £40m of undisclosed revenue over a four-year period between 2000 and 2004.
By Matthew Birt, Motorcyclenews.com
Aug 08, 2007
Already facing the not-so-small small problem of how to overhaul Casey Stoner in the battle for the 2007 MotoGP title, Valentino Rossi could now find himself in trouble in the courts – with reports that the Italian tax agency is investigating the Yamaha rider for suspected tax evasion.
Quoting an agency spokesperson, Reuters reports that the investigation is linked to the decision taken by Rossi to move to Britain back in 2000, a move that enabled the hugely popular Italian to make the most of favourable tax conditions compared to those found at home.
Aug 08, 2007
MotoGP superstar Valentino Rossi has been accused of dodging millions of euros worth of taxes in his country of origin, Italy, and risks a hefty fine, the Adnkronos news agency reported Wednesday.
“For seven months of the year I travel the world for my job. The tax agency is rightly doing its job ... my consultants are already examining the issue,” he said in a statement late yesterday to the ANSA news agency.
The 28-year-old rider is the biggest name to be caught up in the fight against tax cheats since Italian agents seized Argentinian soccer legend Diego Maradona’s Rolex watches last year to help pay off back taxes. TheWest.com
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