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 »
6y 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...
6y ago from MotorsportWeek.com
Alonso: Sochi will reveal true performance of McLaren
Fernando Alonso believes Sochi will reveal the "true...
6y ago from GPBlog.com
Formula 1 launches new live timing app
Russian Grand Prix – Formula 1 have released another app, this time...
6y ago from FormulaSpy.com
Hamilton: Ferrari releasing Kimi does not make sense
Mercedes driver Lewis Hamilton cannot understand why Ferrari have...
6y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Valencia signs deal to remain on MotoGP calendar until...
The Circuit Ricardo Tormo has signed a new deal with Dorna to stay on the...
8h ago from MotorsportWeek.c...
Alex Marquez hits back at ‘disrespectful’...
Alex Marquez has hit back at claims he has “too much respect” for...
1w ago from MotorsportWeek.c...
Marco Bezzecchi takes responsibility for crashing out...
Marco Bezzecchi admits he made "a bad mistake" on the first lap...
6d ago from MotorsportWeek.c...
Marc Marquez identifies surprise name as his main...
Marc Marquez identified a surprise name he believes is his main MotoGP...
1w ago from MotorsportWeek.c...
Popular On IndyCarToday.com
IndyCar sees 50% viewership drop after going...
No description available...
5h ago from Motorsport.com
Pato O’Ward ran nearly 50% of Thermal race without...
Pato O’Ward finished second in Sunday’s race from The Thermal Club,...
1d ago from MotorsportWeek.c...
Christian Lundgaard on Alex Palou’s dominance:...
Alex Palou won last weekend’s IndyCar race from The Thermal Club,...
1d ago from MotorsportWeek.c...
Network explains why the IndyCar race at Thermal...
No description available...
2d ago from Motorsport.com
Popular On TotalWRC.com
Katsuta loses fifth after dramatic final-stage Safari...
No description available...
2d ago from Motorsport.com
Elfyn Evans bags the big game on Safari
Elfyn Evans and Scott Martin claimed their maiden Safari Rally Kenya...
2d ago from MotorsportWeek.c...
Evans wins brutal Safari Rally to boost WRC title bid
No description available...
2d ago from Motorsport.com
Rovanpera out of Safari Rally Kenya with mechanical...
No description available...
2d ago from Motorsport.com
Popular On GunnersToday.com
Real Madrid star hoping to be fit for UEFA Champions...
No description available...
2h ago from SportsKeeda.com
Arsenal to compete with Liverpool for defender with...
Arsenal are planning a big summer transfer window as they continue their...
4h ago from CaughtOffside.com
Man United transfer news: Club 'make contact' with...
Manchester United are reportedly in talks with Olympiacos over a move for...
4h ago from SportsMole.co.uk
Ex-Arsenal star asks Gunners to hire Zlatan...
No description available...
4h ago from SportsKeeda.com
Comments
Hottest News
Lawson OUT at Red Bull as shock change made - report
After just two grands prix with Red Bull, it is... Read More »
2h ago from RacingNews365.com
Staggering Verstappen claim aired: 'He has secretly said...
Max Verstappen faces a huge task to claim a fifth... Read More »
4h ago from RacingNews365.com
Incredible Verstappen trick could have SAVED Ferrari at...
A trick Max Verstappen may have used to add extra... Read More »
2h ago from GPFans.com
