Bloody hell Rafa, what are you playing at here! Pay your tax like everyone else does. This is a serious gripe of mine, you pay your way in society no matter how much or little.
Courtesy: Tennistalk
The Spanish tax man is preparing to take a big bite out of Rafael Nadal's fortune after the world No. 2 was sanctioned for some wrongful uses of Basque country tax incentives.
The tax chaos was revealed by Spain's El Pais newspaper. The controversy was sparked by Nadal companies set up in the Basque country in 2005 and 2006 designed to take advantage of a more liberal tax regime for the quasi-autonomous northwest region.
But investigations revealed that the Nadal companies actually did no business in the region, a key component of the lower tax rates, reported to sometimes be as low as one percent. Nadal and his advisers were forced to then change the headquarters of the companies over to his home island of Mallorca, where normal Spanish tax rates prevail.
While no one is suggesting criminal intent, the sly move will cost Nadal big-time. According to the media report, the Nadals "only came to San Sebastian (in the Basque country) to eat the steak."
The Basque tax regime is designed to promote business partnerships in the economically challenged region, but the regime may be due for a change according to El Pais.
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