Under UK tax rules, any non-resident athlete performing in Britain is subject to income tax on both their appearance fee and any associated worldwide endorsement payments. However, Danny Alexander, chief secretary to the Treasury, said the Government has decided to waive the rule to attract the best talent to the Games.
It is not the first time the tax break has been granted. Competitors at this year’s Olympics have been exempted, as were the footballers at last year’s Champion’s League final at Wembley.
The levy has proved a deterrent to athletes in the past. In 2010, Mr Bolt, the Olympic 100 metres and 200 metres champion and world record holder, missed a Diamond League meeting in London because of the rules. Tennis players and golfers are also believed to have stayed away from smaller UK tournaments due to the tax. They are still taxed on the income in their home country.
See? It\’s entirely a lie that people will change their behaviour as a result of tax rates or rules.
Entirely possible to fleece the population without any changes in behaviour at all.