News Details
Liberty steers F1 around the tax man
Regular readers of this website may remember an article from November about a report on ITV's News at Ten which revealed that F1 paid just $6.5m in tax on profits of $463.6m last year. John Malone, chairman of F1's incoming owner Liberty Media, described it as a 'great structure' whilst Liberty's boss Greg Maffei said the tax arrangement is 'attractive'. An article in the Guardian by Christian Sylt has now revealed that Liberty liked it so much that they copied it in America. To recap, the tax trick under F1's bonnet involves huge internal loans being given by the sport's offshore parent companies to their UK-based subsidiaries. The UK companies make the vast majority of F1's money from...
Full Story »
Full Story »
8y ago from Pitpass.com
0
You May Also Be Interested In...
Liberty Media urges teams to buy into Formula 1
Liberty Media urges teams to buy into Formula 1 New F1 owner Liberty...
8y ago from ThisIsF1.com
Liberty Media: Important for teams to invest in F1
Formula One's new owner Liberty Media is still hoping that competing...
8y ago from GrandPrix247.com
Ecclestone: My F1 future now in Liberty's hands
Formula 1 supremo Bernie Ecclestone has admitted that there are now no...
8y ago from Motorsport.com
FIA approves Liberty Media's acquisition of Formula 1
The FIA has approved the acquisition of Formula 1 by Liberty Media...
8y ago from MotorsportWeek.com
Elsewhere On The Network
Popular On MGPToday.com
Francesco Bagnaia explains why it's ‘impossible'...
After failing to secure a podium at his Grand Prix at Mugello, Francesco...
1d ago from MotorsportWeek.c...
Aprilia to run “special test” for Jorge Martin...
No description available...
1d ago from Motorsport.com
Watch: “Feels like yesterday” - Alex Criville...
No description available...
1d ago from Motorsport.com
Francesco Bagnaia admits it is impossible to think...
No description available...
3d ago from Motorsport.com
Popular On IndyCarToday.com
Malukas’ recovery drive secures Foyt’s best team...
During Sunday’s IndyCar race at Road America, David Malukas was the...
1d ago from MotorsportWeek.c...
Winners and Losers from IndyCar’s Road America...
No description available...
3d ago from Motorsport.com
How a “grumpy” Alex Palou ended up thankful for...
No description available...
2d ago from Motorsport.com
IndyCar Road America – Race Results
Road America was the scene of this weekend’s IndyCar event, and high...
3d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Rallies around the world: The ones not to miss – and...
Rallying is unlike any other motorsport. It doesn’t unfold on pristine...
1w ago from MotorsportWeek.c...
Malcolm Wilson appointed as FIA Deputy president for...
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
Collymore's column: Alejandro Garnacho disrespected...
In his exclusive column for CaughtOffside, former Liverpool and England...
1h ago from CaughtOffside.com
Real Madrid Transfer News Roundup: Los Blancos yet to...
Real Madrid travel to the Lincoln Financial Field on Thursday, June 26, to...
1h ago from SportsKeeda.com
Liverpool make surprise move to sign Arsenal and...
Liverpool have reportedly entered the race to sign Arsenal and Manchester...
6h ago from SportsKeeda.com
'Arsenal will sign him because he wants to join them'...
Sky Sport journalist Gianluca DiMarzio reckons Arsenal will snap up...
10h ago from SportsKeeda.com
Comments
Hottest News
F1 News Today: Red Bull reveal Max Verstappen replacement...
Helmut Marko has revealed Red Bulls plans in the... Read More »
1h ago from GPFans.com
Oscar Piastri shares 'do or die' F1 lesson as Lando Norris...
Oscar Piastri is leading the F1 championship... Read More »
1h ago from RacingNews365.com
Villeneuve: Norris has the pace but Piastri is playing the...
Jacques Villeneuve offered an interesting... Read More »
17m ago from GrandPrix247.com
