The conclusion of the "deal of the century" for the Juventus football team arrived yesterday afternoon: Cristiano Ronaldo will wear the black&white shirt. The € 30 million net salary per season for 4 seasons and the price tag of € 105 million (120 with taxes), added to the commissions in favour of the agent Jorge Mendes, bring to no less than € 350 million the cost of whole operation.
For the Portuguese forward, until yesterday under Real Madrid, will also be a way to go beyond the bad story related to the tax evasion, suffered in recent days in Spain, with 2 years in prison and the 18.8 million euro sanction. According to the judges, he hid the Iberian tax authorities 14.7 million in proceeds related to the exploitation of his image and that they would end up in companies linked to him and based in the Virgin Islands, or in one of the many tax havens on the planet.
Of course, Italy is not a country with a human tax system, yet in the specific case to CR7 it will be very easy to transfer his residence here.
Do you remember what the newspapers called "flat tax", the 100,000 euro flat tax for foreigners who came to live in Italy? Here, it is perfectly suited to the case of Ronaldo. 100.000 euro will be the whole tax burden on all his incomes earned abroad, except that those accrued in the Italy that will be subject to ordinary income tax.
Thinking that Ronaldo earns every year from the sponsorship of Nike 24 million euro for the exploitation of its image. Money, which, together with all other activities abroad, will be covered by the 100,000 euro flat tax. Eventually, paying just another 25,000 euro for each other component, can extend the option also in favour of family members. Therefore, CR7 would enjoy a favourable tax treatment for a maximum period of 15 years.
He would be the best sponsor (this time, without image rights!) for the lump-sum tax pay with the Italian tax law of 2016 for not domiciled new residents. Considering that, net of the recruitment with Real Madrid, in the last few years it has been declared tax revenue of not less than 160 million euro a year; it is clear what the potential savings will be with the transfer to Italy.
Our firm can assist international clients, as we do, not only to relocate their residence to Italy, but also to opt for the new resident not domiciled tax package. Contact us with confidence, we have experience about this matter.