Asia business report bbc world cup

Much of that will have gone directly to Fifa in Switzerland, outside the scope of the German tax net. Meanwhile Fifa accrued more than 2. This fulfilled a government promise made in in response to the demands of the European football authority Uefa.

Intriguingly, the document does not directly mention the most high-profile participants in the World Cup - the players. That applies so long as the potential tax relates directly or indirectly to the World Cup and any of its associated events.

Fifa have very strict confidentiality clauses Gerry Sutcliffe, Former sports minister These will contain the details of how, exactly, the would-be hosts propose to go about organising such a massive event.

Meanwhile the Brazilian government, already awarded the World Cup, has just agreed that Fifa and its partners can be exempt from taxes on any goods and services related to the tournament for five years; from January until the end of Germany also taxed the non-resident players and trainers as normal, charging them The bidding nations have been asked to comply with a wide variety of conditions that Fifa has laid down - and which it would like to keep confidential.

The Budget exempted overseas sportsmen and women from being taxed here during the London Olympics. For these organisations the tax concessions only apply when the goods or services are provided at an official Fifa site. It also appears to mean that the tournament income of the players, some of whom are among the highest paid earners in the world, should also be exempt from tax.

Holland and Belgium have a joint bid to host the or World Cup. This exemption also applies to associated bodies such as the local organising committee; Fifa confederations; Fifa member associations including the hosting association; the host broadcaster; and Fifa service providers.

Do they involve relieving the players, possibly even those already resident in the UK, from paying tax on their incomes?

The host government has given away almost the entire tax-take to Fifa Moray Wilson, Deloitte, South Africa The government has agreed this sort of thing before. Among them is that the entire event should be free of tax for Fifa. Everyone else from abroad who was officially accredited to the competition was exempted from German income or corporation tax, although VAT was applied to sales and services as normal.

This Friday, 14 May, in Zurich in Switzerland, representatives of footballing countries around the world will submit their bids to host either the or tournaments. How much income tax did Fifa pay in locally?

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But the Dutch exemption for individuals seems all-encompassing: This means that to be successful in its bid, the UK government must agree to forgo tens of millions of pounds in tax for the benefit of Fifa, which - as a charitable organisation - pays hardly any tax to its home country of Switzerland.

A spokesman said this did not equate exactly to the number exempted from tax; no exact figure is available. The London Organising Committee is exempt from corporation tax, the International Olympic Committee is exempt from income and capital gains tax as well, and foreign competitors and staff are covered by this too.

So how much money may go untaxed if a World Cup is staged in the UK? These are external links and will open in a new window Close share panel Image caption The moment every bidding nation wants to see in its soil The BBC can reveal, for the first time, the full scale of the remarkable tax concessions that the world football authority Fifa demands of countries that wish to host a World Cup competition.

Confidentiality The decision on where the and competitions are to be staged will be taken by Fifa in December, after considering the huge Bid Books that the contending nations are about to submit. Image caption Fifa President Sepp Blatter is overseeing the bids for and The Dutch government recently published all eight government guarantees on its official website, in the form of a draft letter to Fifa President Sepp Blatter.The latest news, business and sport from BBC News, plus your need-to-know guide to the big stories coming up today.

Business Briefing The latest economic and financial. The latest news, business and sport from BBC News, plus your need-to-know guide to the big stories coming up today. They've done it again - Japan fans amuse and impress by cleaning up after their team's opening match at the World Cup.

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Live from Singapore the essential business news as it breaks and a look ahead to the news that will shape the business day. South Koreans say celebrations over their World Cup win which aided Mexico took on racist overtones.

Asia business report bbc world cup
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