TaxAdministrationItalian £14m tax bill catches up with Rossi

Italian £14m tax bill catches up with Rossi

Italian tax authorities catch up with motorcycle champion Rossi, handing him a £14m bill

Motorcycle champion
Valentino Rossi was
presented with a £14m broadband bill yesterday after reaching an agreement with
the Italian tax authorities in the lead up to the start of the new MotoGP
season.

The seven-times world champion has been living in London since 2000, claiming
‘British resident non-domiciled’ status, but the
Italian
tax agency
became suspicious when Rossi asked for an internet connection to
be installed in his hometown of Tavullia, The Times reports.

The paper trail led to the local marina where Rossi’s 46ft yacht was moored.
Eight cars were also found with insurance registered to Rossi or his companies,
prompting Vincenzo Visco, Italy’s junior finance minister, to accuse Rossi of
creating a ‘more or less fictitious’ home in Mayfair.

Rossi is one of the wealthiest sportsmen in Italy but he paid only £629 in
tax in Britain in 2001, the year he first won the MotoGP title. The Italian tax
agency was outraged and initially demanded £80m.

Further reading:

Italian taxman seeking £75m from Rossi

Motorcycle legend Rossi in Italian tax probe

Read
story in The Times

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