Rossi evades taxes; the UK an Offshore Financial Center
September 3, 2007 8:07 AM Subscribe
Valentino Rossi is a very successful, well-compensated motorcycle racer and winner of numerous Grand Prix World Championships. He is under investigation by Italian authorities for tax evasion, which The Doctor allegedly accomplished in part by relocating to London and possibly taking advantage of the Non-domicile classification [link to google cache to avoid registration] for tax purposes. According to UK authorities, in 2003, for instance, his declared income was £650. Even a priests is becoming vocally upset at Rossi and the public's reaction. On a far larger scale, the UK was earlier this year identified as an Offshore Financial Center in an IMF white paper [34 page PDF]and there are those who think the purported tax-haven monster should be confronted. The Norwegian government agrees and wants to "facilitate the recovery of assets illicitly stacked away in tax havens" by way of a global coalition, of which the UK is not part.
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