News Details
F1 benefits from $27m Singapore tax windfall
Newly released documents reveal that F1 is set to receive $27m in tax money previously withheld by the Singapore government. 'In January 2018 agreement was reached with the Singapore tax authorities regarding the refund of Singapore taxes, historically withheld from race promotion fees paid to the company by the Singapore race promoter,' reveal the documents, according to Forbes. 'As a result of this agreement, Singapore taxes totalling approximately $27m will be refunded to the company. It is expected that the refund will be received during 2018, resulting in an overseas tax credit of the same amount in that year.' Though race agreements stipulate that fees must be paid free of all taxes,...
Full Story »
Full Story »
7y ago from Pitpass.com
0
You May Also Be Interested In...
F1 relaunches old timing app following complaints
Formula 1 has launched a dedicated live timing app on Android and...
7y ago from MotorsportWeek.com
Alonso: Sochi will reveal true performance of McLaren
Fernando Alonso believes Sochi will reveal the "true...
7y ago from GPBlog.com
Formula 1 launches new live timing app
Russian Grand Prix – Formula 1 have released another app, this time...
7y ago from FormulaSpy.com
Hamilton: Ferrari releasing Kimi does not make sense
Mercedes driver Lewis Hamilton cannot understand why Ferrari have...
7y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Marc Marquez to miss Australia, Malaysia MotoGP races...
No description available...
13h ago from Motorsport.com
Marc Marquez sidelined for next two MotoGP rounds with...
Marc Marquez will miss the next two MotoGP rounds in Australia and...
13h ago from MotorsportWeek.c...
Injured Marc Marquez set to travel to Madrid after...
One week after securing his seventh MotoGP title, Marc Marquez will fly...
1d ago from MotorsportWeek.c...
Why Francesco Bagnaia needs a different kind of help...
No description available...
15h ago from Motorsport.com
Popular On IndyCarToday.com
IMSA’s AO Racing considering expansion, possibly...
AO Racing, one of the more popular teams racing in IMSA currently, is...
2d ago from MotorsportWeek.c...
Five IndyCar teams jump start offseason testing at...
Five different IndyCar teams completed a test at Mid-Ohio Sports Car...
5d ago from MotorsportWeek.c...
Mick Schumacher to make IndyCar test debut with Rahal...
No description available...
1w ago from Motorsport.com
Mick Schumacher set for IndyCar test with RLL
Rahal Letterman Lanigan Racing has announced that it will bring in Mick...
1w ago from MotorsportWeek.c...
Popular On TotalWRC.com
Hyundai WRT on the attack
Hyundai Shell Mobis World Rally Team is not taking their 2025 drubbing at...
1w ago from MotorsportWeek.c...
Hyundai call set to boost Ott Tanak’s WRC title...
No description available...
1w ago from Motorsport.com
Mandated rest periods at WRC rallies to face FIA vote
No description available...
1w ago from Motorsport.com
WRC swaps Sardinia for Rome as home of Rally Italy...
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
Arsenal dominate West Ham to go top!
FREE TO WATCH: Highlights from Arsenal's match against West Ham in the...
10m ago from SkySports.com
“He’s not good enough”, “Supposed to be third...
Arsenal fans have expressed their displeasure with the inclusion of...
2d ago from SportsKeeda.com
Arsenal v West Ham – live blog
Join us for live blog coverage of our Premier League clash with West Ham...
2d ago from Arseblog.com
'I have one name' – Fabrizio Romano names new...
Arsenal reportedly have an interest in a potential transfer raid on Real...
2d ago from CaughtOffside.com
Comments
Hottest News
Toto Wolff announces Mercedes 2026 F1 driver U-TURN live on...
Toto Wolff performed a swift U-turn live on air... Read More »
50m ago from GPFans.com
Red Bull rue missed Max Verstappen opportunity: 'Not...
Pierre Waché, speaking exclusively with... Read More »
1h ago from RacingNews365.com
McLaren declare 'reality' of controversial Lando...
McLaren boss Andrea Stella has explained why... Read More »
2h ago from RacingNews365.com
