JORGE Lorenzo has been acquitted by the Spanish Central Economic Administrative Court of the €35 million euros demanded in unpaid income tax for 2013, 2014 & 2015 that they felt was owed.
Over the years in question, Lorenzo was an official Yamaha rider, and the Spanish treasury was claiming that the Mallorcan native had residency in Spain during this time, and as a result they were owed the huge sum.
However, Lorenzo insisted (with the aid of his legal team) that his residency was in Switzerland over this period – a country whose minimum residency requirements are that Swiss residents must spend at least 90 days over the year in the country, before they are granted residency and that hallowed ‘tax haven’ status.
I’m not saying that Switzerland isn’t a lovely place on its own to set up shop, but there are also those added benefits thrown in that the super-wealthy may enjoy.
Upon investigating the issue and the facts submitted, the Spanish court found that his residency did, in fact, meet the Swiss requirements, and ruled in the favour of Lorenzo. Acquitted of all charges, that €35 million euros sum is safe for now.
Jorge Lorenzo tells the Spanish courts ‘this ain’t your money, señor’
It’s worth noting that this isn’t the first time that Spanish tax authorities have pointed the finger at the top brass of riders on the paddock. Previous examples include Dani Pedrosa, Aleix & Pol Espargaro, and Sito Pons who were all chased up for similar ‘tax evasion’ charges.
One other note is that Spanish rules state those with residency abroad cannot live in Spain for more than 6 months – you win some, you lose some.