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Italian taxman seeking £75m from Rossi

AccountancyAge.com, Accountancy Age, 13 Aug 2007

Stakes raised in battle with Italian taxman

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.

The campaign is being led by prime minister Romano Prodi, who says tax avoidance is crippling the economy.

Rossi, 28, a seven-time world champion who claims to have settled in London, has paid almost no taxes in Italy since 2000. The Italian tax authorities insist he remains in effect a resident of Italy.

Further reading:

Motorcycle legend Rossi in Italian tax probe

Italian tax dodging reaches ‘indecent level’

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