Move back to Spain costs Alonso £50m - GPUpdate.net


Fernando Alonso has revealed that he is no longer a resident of tax-free Switzerland, having elected to migrate back to homeland Spain. It is believed the move will cost the Ferrari driver an estimated 50 million pounds in taxes.

Born in Oviedo, Asturias, Alonso’s move to Switzerland boosted his financial situation. However, it is being predicted by The Mirror that the homecoming will cost a third of his new £150m contract with Ferrari, which stretches to the end of 2016.

“It's great to go home,” the 29-year-old is quoted as saying by the British newspaper. “I'm happy to pay the money. I'm not poor - just a little less rich now.”

 

 

Poor financial advice to throw away 50 million GBP.

 

hmmm

 

I hear Spain is cool and all but I don't see the point of moving back and losing that kind of money, no matter how rich you are.

 

It seems like such a big number because it is the gross amount. There are plenty of people making 1m there who pay the same percent in taxes and can live there. Good for him to find what is important to him and be a little "less rich."

Btw I thought people get paid where they earn the money. Like in the NBA don't players pay taxes based on their pay per game multiplied local tax bracket for said amount of money?

 

Omg! He must be mad!

 

agreed, getting from switzerland to spain whenever you like is not a difficult proposition. im sure this was a spouse driven move.

reading the thread helps form applicable replies

 

that is madness

 

Reading is so overrated.