Premier League bigwigs owe a big debt to Spain's government for
abolishing Beckham's Law and forcing top stars to cough up more
than half their wages.
Last year the Spanish government scrapped a loophole named after
David Beckham that allowed elite foreign workers — including
professional sportsmen — to pay 24 per cent tax,
HALF the top rate in Spain.
Becks was the first to benefit after its introduction just
before his 2003 switch from Manchester United.
But news this week La Liga's high earners will pay 54 per cent
of their earnings to the taxman means the Prem can now compete to
attract the best in the world again.
Jose Maria Gay, economics professor at the University of
Catalunya, said: "Now foreign players will be more expensive.
"Before, thanks to the cushy Beckham Law, we were among those
who paid the least in that area and now we are among those who pay
the most.
"It is 54 per cent — 56 per cent in Catalunya.
"The repeal of the Beckham Law along with the rise in income tax
is a bad joke."
Spain's big-hitters are faced with disastrous consequences.
Real Madrid and Barcelona's wage bills stand to increase by tens
of millions and already the effects are starting to show.
Eric Abidal is out of contract at the Nou Camp in the summer and
he's stalled on a new deal because of the tax rise.