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barreleffact
07-26-2008, 12:04 AM
Everyone is saying the euro players wont pay taxes, but from what I understand if they are still US citizens, then they have to pay US taxes or its tax evasion. If they declare other citizenship, wont they have to pay that countries taxes?

CHief_0_o_Wahoo
07-26-2008, 12:06 AM
Everyone is saying the euro players wont pay taxes, but from what I understand if they are still US citizens, then they have to pay US taxes or its tax evasion. If they declare other citizenship, wont they have to pay that countries taxes?

Yea I think they still have to pay some kind of tax being U.S. citizens and all.

black1605
07-26-2008, 12:13 AM
this is purely speculation, but i would imagine f they have residence/citizenship in another country, they probably dont have to pay American taxes

SAVAGE CLAW
07-26-2008, 12:30 AM
Well im no lawyer or anything but i think there is an international agreement to pay taxes only where you live.

So as they will be LIVING in the country they play for there is where they pay taxes.

The thing is you are not understanding what "Tax free" means.

What its happening is that the CLUB actually PAYS the taxes for the player, so they will pay to whom they have to pay if its greece then greece and if its USa then USA but the player gets his money already free of taxes.

He signed for 30 million i think? well in reality the club is paying 60 millions, 30 tax free for Josh and the other 30 to the ..."I.R.S? is that called?"

KB24PG16
07-26-2008, 02:29 AM
even if they do everyone thats goin overseas is gettin overpaid which cause nba teams to overpaid their players as well

DenButsu
07-26-2008, 03:53 AM
I'm American and I live in Japan. I think the cutoff point is something like $80,000 a year or less that makes you eligible for the Foreign Earned Income Tax Exemption. Basically, that means if you reside and work abroad, and you make more than 80 grand a year you have to pay taxes, if not you don't.

Lucky me. I make a lot less than that. :rolleyes:

Hellcrooner
07-26-2008, 12:12 PM
As a Lawyer i can answer that:

First the Claw is right in saying that the salary is not tax free, is only that Team pays the taxes for the player.

SO in reality the lsaklary may be in the neighbourghud of 50 million.

And o the secodn subject.

As we all know there are different Taxes , Personal Taxes, Society taxes, COrporative etc etc.

Basically when you go abroad, there are some contracts between couuntries, so if you are american and live in spain for exampe, there is a money limit under wich you only pay in spain, when you exceed that limit you pay teh inlimit wages in spain and the off limit wages in Usa.

ITs complicate to explain in a language that is not native.....

Hellcrooner
07-26-2008, 12:14 PM
of course if they create a fictionay "Mercantile Society" and base it in GIbraltar or Malta they will Evade taxes completely.

DenButsu
07-26-2008, 01:29 PM
if you are american and live in spain for exampe, there is a money limit under wich you only pay in spain, when you exceed that limit you pay teh inlimit wages in spain and the off limit wages in Usa.

If you're American, it doesn't matter what country you live in (as far as U.S. taxes go, not local country of residence taxes). The Foreign Earned Income Tax Exemption is the same for all countries. You're absolutely right, of course, that different countries will tax their foreign residents in different ways.