According to French law, since the driver is "working" in their country, that portion of their salary is taxed. Not sure of the amount, but none of the drivers like racing in France for that reason.
According to French law, since the driver is "working" in their country, that portion of their salary is taxed. Not sure of the amount, but none of the drivers like racing in France for that reason.
I'm sure that can't be correct. F1 teams do a lot of testing at Paul Ricard - it wouldn't be half as popular if the teams were taxed for using the facilities. Any law like that wouldn't just effect F1 drivers, it would effect anyone who races professionally in any race event and any team personnel who are employed during a race event. France would be void of any professional motorsport if this was the case.
It was in F1 Racing magazine. They did a story about drivers and the taxes they pay. Some choose to live in Switzerland because they do not actually work in that country, so they pay a lower flat tax to live there.
It was in F1 Racing magazine. They did a story about drivers and the taxes they pay. Some choose to live in Switzerland because they do not actually work in that country, so they pay a lower flat tax to live there.
While a lot of drivers like tax havens like Andorra, Switzerland, and Monaco, they do so because of the high tax rates in almost all of their nations, not because of what they earn at each race they attend.
In many cases, the drivers do not get paid anything as prize money, except for a few drivers at the end of the grid (or end of their careers). The team members usually get a little something. In fact, the race prize amounts they get is a bit a mysterious secret based on many variables, which is about the one thing about F1 racing that is not very well understood, "recent-"past or present, since drivers don't talk about it.
If I worked, earned anything, or brought back more than $600 (approximate, not sure...it used to be $400) in France, and came back to the US, I'd have to pay Uncle Sam if I came back, not the French Government.
It was in F1 Racing magazine. They did a story about drivers and the taxes they pay. Some choose to live in Switzerland because they do not actually work in that country, so they pay a lower flat tax to live there.
