2023-06-14 09:41:49
Press reports indicated that Karim Benzema, the Al-Ittihad star, would lose a large part of his salary with the Saudi club due to Spanish taxes.
According to the report of the Spanish newspaper “Mundo Deportivo” that despite Benzema’s departure from Real Madrid to Al-Ittihad, as there is no income tax in Saudi Arabia, the French star will still be required to pay a series of taxes linked to Spain.
Benzema will receive regarding 100 million euros per season with a two-season contract, in addition to 20 million euros to be an ambassador for the Saudi bid to host the 2030 World Cup.
The French star was earning 11.5 million euros net following taxes at Real Madrid, and part of the salary that Benzema will receive in Saudi Arabia will go to Spanish taxes, according to what is known as the “exit tax”, a tax that is imposed at a rate ranging between 19 and 28% on profits. He gets it from participating in companies for people who move outside the EU following having spent at least 10 of the previous 15 years in the EU, as is the case with the French player.
The Spanish report indicated that he will also have to pay taxes if there is any income pending following his move or income he continues to receive from Spanish sources as a non-resident in the event that assets or contributions are kept in companies that own property in Spain, wealth tax and tax will also affect him. Solidarity on big fortunes In other words, Spain will still get a large share of Benzema’s profits.
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