Rossi settles Tax.Demand

Zer0Zer0 · Post by **Zer0Zer0** » Tue Feb 12, 2008 3:48 pm

Posted: 2008-02-12 10:42:25
PESARO, Italy (Feb. 12) - Seven-time motorcycling world champion Valentino Rossi paid about $27.6 million Tuesday to settle a dispute with Italian tax authorities, news reports said.

The figure could rise to $50.9 million when his 2005-06 earnings are also taken into consideration, the ANSA news agency reported.

"I'm much more serene now. Everything is much clearer, and I can concentrate on my work," Rossi said in a televised news conference after exiting the tax agency in his hometown.
Italy's tax agency announced in August that it was investigating Rossi - the country's highest paid athlete - for possible undeclared earnings of $87.3 million from 2000-04.

The agency said Rossi, who has been a British resident since 2000, allegedly did not declare revenues from sponsors and his team to either British or Italian authorities during that period.

Rossi has said his accountants assured him that he had complied with the law.

"I reached a fork in the road," Rossi said. "I could have fought this - and I could have won or lost - but it would have taken a very long time."

Rossi added that he has decided to live in Italy again.

"London is a very interesting city, but spending more time with my family and my friends has become of greater importance considering all my affairs around the world," Rossi said, adding that he would declare his taxes for 2007 in Italy.

cupasoop · Post by **cupasoop** » Tue Feb 12, 2008 9:51 pm

Timbo wrote:He is not popular in Italy so i bet this pleases a few over there.

Not popular??

Kitch · Post by **Kitch** » Wed Feb 13, 2008 7:26 am

Nope... I'm not a Rossi fan neither...

The Italian fans at Mugello were pretty Rossi oriented, well and Ducati as well - which was funny hearing the Ducatisti stand - really loud at the start, pretty quiet by the end.

VALE... VALE... VALE...

Zer0Zer0 · Post by **Zer0Zer0** » Wed Feb 13, 2008 9:07 am

Maybe with all the Tax crap out of the way he can concentrate on winning back the title?....like most champions there is a little arrogance there..
I am a Fan, just because of his sheer skill as a rider, hopefully this Season we will see some cracking racing

Beamish · Post by **Beamish** » Wed Feb 13, 2008 10:01 am

I am also a fan, the man is a riding genius but would love to see Capirossi do well.

Beamish · Post by **Beamish** » Wed Feb 13, 2008 4:08 pm

Timbo wrote:
Beamish wrote:I am also a fan, the man is a riding genius but would love to see Capirossi do well.
amen to that, but lets not forget Mr Toseland before we go all gooey over a foreigner.

We can only wish, dont think the Bike will be up to it even if Toseland is. Hes my outsider in fantasy GP anyway!