Argentina implements strict rules and controls on the soccer industry
Every soccer team from the Argentine First and Second Division will as of this week have to open a bank account where they will deposit the total sum of money generated from soccer player transfers. Financial rights will now solely belong to the entities involved.
These measures were announced by Argentina’s AFIP tax agency head Ricardo Echegaray, who presented to the press a number of measures in order to make the soccer players market more transparent.
The objective of Resolution 3432, which will becomes with its publication in the Official Gazette, is “to reverse the current local soccer situation, where clubs are under the control of businessmen and agents,” said Echegaray during the press conference at the AFIP headquarters in Buenos Aires.
Echegaray explained that the national government intends to ensure that “soccer clubs are the main actors,” and to “heal” the soccer market by reducing tax evasion.
In order to achieve this aim, for tax purposes, financial rights will be solely owned by the clubs, which will also act as withholding agents for income tax in the soccer transfer operations.
A soccer agents register will be created, where clubs will have to give the names of those athletes they represent their contracts and inform the earning obtained, and another register will be created for “soccer businessmen.”
Regarding the players’ financial rights, Echegaray said that the measure “seeks to delimit” what he calls “21st century slavery,” through which one or more people are owners of a soccer player.
“A businessman no longer owns a person,” said Echegaray, adding that these types of investments in people “will have to be done through hedge funds” created by the clubs.
The AFIP director said that the fact the financial rights stay in the hands of the soccer clubs means that the transfer payment will be made through them.
“The funds must go through the soccer institution, no matter what,” and through the bank account open for this purpose.
Echegaray said that currently soccer clubs every week have to notify AFIP about their soccer squad.
“The new measure maintain this obligation, but creates a registry for the agents and another for soccer businessmen,” said Echegaray, adding that this will complete the cycle of necessary information.
“This means that when a transfer price is found to be unreasonable, the agency can determine a value based on the market prices,” said Echegaray, adding that this could lead to AFIP suspending the Individual Tax Code (CUIT) of those “businessmen” involved in the operations.
The measure understands by “soccer businessmen” those who invest in soccer player’s financial right and “then obtain a profit from the player’s transfer.
Suggested Stories
-
Jun 19th 2013
India-Argentina pledge to improve trade; Timerman thanks Delhi support on Malvinas dispute
-
Jun 14th 2013
Thinking in October, Cristina Fernandez demands from banks a new round of low cost business loans
-
Jun 19th 2013
Blow for CFK: Supreme Court rules unconstitutional Counsel of Magistrates reform
-
Jun 19th 2013
Argentina bans British made ejection seats from local jet trainer IA-63 Pampa III
26 comments Feed
Note: Comments do not reflect MercoPress’ opinions. They are the personal view of our users. We wish to keep this as open and unregulated as possible. However, rude or foul language, discriminative comments (based on ethnicity, religion, gender, nationality, sexual orientation or the sort), spamming or any other offensive or inappropriate behaviour will not be tolerated. Please report any inadequate posts to the editor. Comments must be in English. Thank you.
www.foxnews.com/world/2013/01/04/chile-police-businessman-wife-die-as-home-burns-during-attack-by-mapuche/
Have they been to the UN again?
If I am right, I have a feeling this is not going to go down well with a nation that loves its football.
Then again I have to wonder where they going to go next to grab revenue, this must surely be scraping the bottom of the barrel.
Ferkin place gets more and more like 1984 every single day. Whilst I support the Islanders 100% and more, I still can not help feeling (not sorry, that's condescending) feeling for the people of Argentina.
Anyone care to guess what's next?
Not sure what all this is about though. Oh welll.
There you go KFC, exports, without imports, missed that one, surely there's $US there!!!!!
The Italian blood also imported their affection for corruption at every level. It is not considered wrong there, just beating the system. Something has to be socially unacceptable for it to stop. In Italy and Argentina it is perfectly acceptable to large sections of the population.
Argentine football has been bankrupt many times. I remember maybe a year or two ago the season could not start because of the lack of funds (the funds having disappeared into various pockets and overseas accounts). One club, San Lorenzo, not missing an opportunity to dupe a foreigner, persuaded Viggo Mortensen to bail them out. The fool had spent some of his childhood living in Argentina and continued to support his favourite team. Little did he know his money was going to disappear too. He should have a asked me. : )
You should have seen the Naafi, easily recogniseable by the Poly filled bullets holes on the exterior, courtesy of the local Mafiosa, does not do to refuse to pay protection.
Lol, that's a cracker!
And the saddest part of your “story”?
All that and the Italians ate still more decent people than you lot!
(and that's how the world sees it. Everyone loves Italians... you? not so much)
You also share a common cultural trait with Germans, which is the succession of the pure germanic race, and a continuation of their war against the mongrels. That's why you accepted a huge number of them after the war, because your country wanted to continue their cause and allow them time to regroup, recompose and reform under the new ideologically racist and expansionist banner of'Peronism'. We all know that your eternal president has a germanic name, 'Kirchener', and we all know her policies are extensively Hitlerist.
Thankfully this mollycoddle of cultural traits simply leads you into the toilet, and away from any kind of racially pure utopia.
All Italians are neither Mafia nor córrupt....
Like in Argentina, It's accepted.
Yes, we took the corruption of the Italians, the goostepping of the Germans, the thieving of the Spanish, the arrogance of the French, the hypocrisy of the British, the naiveness of the natives indigenas, the greedyness of the Jews, and the extremism of the Arab. All in a nice wonderful mixture, especially for you.
hahahaha... but no, none of you are “racist” given you all perpetuate such stereotpypes. Well, then again, the hypocrisy you all display does tend to perpetuate the adage.
So just pick a quarrel with Lichtenstein or San Marino and give us all another laugh. BTW where is Timmerman? Hes been a bit quiet lately. Probabably off in Uruguay enjoying the beach and night life in Punta del Este
The objective of Resolution 3432, which will becomes with its publication in the Official Gazette, is “to reverse the current local soccer situation, where clubs are under the control of businessmen and agents,” said Echegaray during the press conference at the AFIP headquarters in Buenos Aires.
Echegaray explained that the national government intends to ensure that “soccer clubs are the main actors,” and to “heal” the soccer market by reducing tax evasion.
In order to achieve this aim, for tax purposes, financial rights will be solely owned by the clubs, which will also act as withholding agents for income tax in the soccer transfer operations.
A soccer agents register will be created, where clubs will have to give the names of those athletes they represent their contracts and inform the earning obtained, and another register will be created for “soccer businessmen.”
Regarding the players’ financial rights, Echegaray said that the measure “seeks to delimit” what he calls “21st century slavery,” through which one or more people are owners of a soccer player.
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!