Les Strikers: French Soccer Players Refused Supertax Exemption, Threaten Blackout: French President Francois Hollande has finally found an interest group he can say no to. The Socialist leader told soccer club owners on Thursday he has no intention of repealing or exempting them from a 75-percent tax on salaries exceeding 1 million euros per year, despite the threat of a match blackout later this month. After meeting club executives, Hollande said in a statement that the need to clean up public finances justifies this tax on businesses that pay such high salaries. But football officials did not seem satisfied, saying they would go on with plans to organise their blackout—a weekend without a football match at the end of November. Hollandes determination to stick to the two-year supertax contrasted with his governments backpedalling on other fiscal fronts, such as a proposed tax on trucks, and proposed taxes on savings and business turnover. But the 75-percent tax on top earners, a flagship pledge in Hollandes 2012 election campaign, is much more popular than other levies. A survey by pollster OpinionWay this month showed that 85 percent of voters said they did not think football clubs should be exempted. Fourteen of the 20 Ligue 1 clubs will be affected by the tax, with Qatar-funded Paris St Germain the hardest hit. Monaco, backed by a Russian billionaire, will be exempt as they do not fall under French tax laws. PSG have spent more than 200 million euros on transfers since being taken over by Qatar Sports Investments in 2011, and are expected to pay some 20 million euros.
Posted on: Sun, 03 Nov 2013 02:15:41 +0000
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