The Independent reports that Tiger Woods may be following Usain Bolt’s lead in avoiding competition in the UK for tax reasons:
Tiger Woods’ reluctance to accept a Ryder Cup wild card may in part be due to a £1m tax bill he could face for playing in the event, which pays no prize money. Aside from any sporting price his team-mates might face because of his wretched form, the issue highlights a problem that is causing concern for many British sporting events.
The world No 1, who is reportedly going through an expensive divorce, is notoriously careful with his finances, and is no great lover of the biennial match between Europe and the US. But any reticence on his part of having to pay huge sums to represent his country would provoke sympathy among the world of professional sport.
Woods would not be the first athlete kept away by Britain’s new punitive tax rules – the sprinter Usain Bolt has pulled out of a high-profile race in London this weekend. And prospective members of Europe’s Ryder Cup team whose main residence, like Woods, is in the tax haven of Florida could also be hit.
When certain pro-tax types tell you that high taxes do not adversely effect the economy, don’t you dare believe them.
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1 High Taxes Scare Rich People Away // Jul 3, 2011 at 9:08 am
[...] Tiger Woods to Avoid Ryder Cup Because of U.K. Taxes [...]
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