Serie A teams have been handed a huge transfer market boost after Italy prepared a new ‘Beckham law’ which allows foreign players and coaches to pay less tax.
The new law, dubbed ‘the new Beckham law’ after its Spanish counterpart, will see foreign footballers only having to pay a fixed tax of 100,000 EUR on all of their earnings from outside Italy.
Local media report the tax breaks are likely to be used by Italian clubs to help recruit and coaches, with former Chelsea boss Antonio Conte reportedly in line to be a beneficiary if he moves to Roma.
As Conte has not lived in Italy for the past 24 months, he wold be eligible for the new breaks,
Italian newspaper Il Sole 24 Ore explained that previously clubs would have to a player or coach 17 million EUR gross for them to earn 10 million EUR after tax, with the new law would see them only have to pay 11.5 million gross for the same net earnings.
Local media report the new tax law could be used to try to tempt Pep Guardiola from Manchester City, especially as he has never coached in Italy, and Juventus are rumoured to be considering using the decree to make an offer for Neymar.
The “decree of growth” applies to those in Italy who have moved their residency to the country since 1st May and have not lived there in the previous 24 months. They will also only have to pay 30 percent tax on their income in Italy.
The ‘Beckham Law’ was passed in Spain in 2005 and sees wealthier foreign workers in Spain avoid taxes on their non-Spanish income and assets.
Former Manchester United and Real Madrid superstar David Beckham was one of the first foreigners to take advantage of it.
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Story By: Alex Cope, Sub-Editor: Alex Cope,Agency: Golder’s News And Sport
