F1 » New headache to tax Indian GP officials


Teams face demands on income ahead of new event's debut.

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Snipe - Unregistered

September 10, 2011 11:35 AM

I'm wondering if that isn't a reasonwhy the US gp is in Texas, it's one of the few states with no state income tax. I've heard some states and cities like New York will hit individual players that simply play a game in New York with a tax on a portionof their yearly salary.

Cobalt

September 10, 2011 12:16 PM

Oh, get on with it!!!

I move between 3 countries and make sure that I know tax laws in each.

It is expected of everyone and no it is not extraordinarly comlicated:rolleyes:

In some aspects F1 seems so naive and amateurish...

richard

September 10, 2011 12:24 PM

surely the money that the teams receie is a payment into an account where they are registered. therefore, how could the indians hold teams responsible for tax. the promoting team in india could be liable to tax on their profits, but other than that, there seems to be little risk of any liability.

FiatBater - Unregistered

September 10, 2011 12:50 PM

I don't know what reciprocal arrangements are normal between India and the nations involved in F1 but whatever they are, the CURRENT arrangements should be honoured. F1 should not be a special case just because of the amount of cash involved.
F1 will bring a lot of cash into India this year and provided the track and facilities are complete and acceptable maybe the same will be true in future years.

spaghettieddie

September 10, 2011 2:14 PM

All the teams should get together and buy some livestock, start with donkey's then maybe bring some cows (they love cows) some big fat chickens and.....well whatever is cheapest and looks healthy. Offer them as a gift to all the farmers in the area and tell them they will not get them if they(the teams) are taxed. That should solve the problem!:)

Paul G - Unregistered

September 11, 2011 12:52 AM

Simple, tell the Indian govmt they will move the GP to Pakistan, that will solve it. If they don't budge, just drop the Indian GP. I never understood this desire to expand to places that have nothing to offer from a motorsport perspective.

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