Saturday, October 27, 2012

Marco Melandri Handed Suspended Jail Term For Tax Evasion

Marco Melandri has been given a suspended jail term of one year and seven months for tax evasion by a court in his home town of Ravenna. Melandri was found guilty of trying to evade taxes during the period he lived in Derby, in the UK, the court finding that Melandri's residence for tax purposes should have been in Ravenna, Italy, Melandri's home town.

Melandri was resident in the UK to take advantage of the British non-domiciled resident status, which allows wealthy non-UK citizens with large incomes from sources outside the UK to avoid paying tax on that income. Melandri was one of several riders who had elected to have their residence in Britain for precisely that reason. Valentino Rossi was one such rider, nominally resident in London, but with "non-dom" status to avoid paying tax on his income. But Rossi was an earlier victim of the Italian tax authorities, the nine-times World Champion being found guilty of tax avoidance in Italy and condemned to pay a fine of 35 million euros in 2008.

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