Before making this video and deciding to specifically mention Lewis Hamiltons tax behaviour, did you think to look at his specifically arranged tax behaviours? Clearly not, he pays tax to the country that he's earned money from a race and his tax from team is paid to the employers country of origin and then he lives in Monaco… And then on top of that he still pays the UK tax requested (this I certainly don't understand why) but that comes out of his sponsorship purse BUT who cares when you can just make vids mention names without knowing what you should prior
Because Monaco is a principality, not a fully sovereign country. It functions under the influence and protection of France. So France has a say about what French citizens and businesses can do in Monaco. The equivalent of the prime minister in Monaco is a French civil servant nominated by the French government in agreement with the Prince of Monaco, for example.
Should be illegal within EU these kind of rules. Its weird that a Dutch can have no tax in Monaco, but a french born cant.. Thats pretty much against EU law
Except while living in France F1 drivers pay little to no income tax – they pay regular tax rates but the amount of actual taxable income they have is relative small. Why is that when they earn millions? Well it's fairly simple because the money they earn is not personal income rather most if not all F1 drivers and professional athletes are Gasly Inc. llc corp. etc. They're essentially a life insurance behind a living trust behind a company simply for tax and liability reasons. Paying a manager goes fro being an personal expense to being a tax write-off and hiring financial managers and accountants goes from being to being essentially free! Hiring your mom to do social media sponsor type stuff becomes tax free business expense etc. An NFL draft player got a 13 million dollar signing bonus but due to bad financial advice paid over 8 million in taxes from that. It's scary having to pay half a million to a million to accountants and lawyers to set your life before you even see a dime but it will save you millions in taxes in the long run and you will most likely not end up bankrupt and even if you do they can't touch your life insurance and everything going in and out is basically tax free.
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He spends a lot of time in Dubai, which I assume is for tax purposes
Ouch
Hi
Change citizenship.
Before making this video and deciding to specifically mention Lewis Hamiltons tax behaviour, did you think to look at his specifically arranged tax behaviours? Clearly not, he pays tax to the country that he's earned money from a race and his tax from team is paid to the employers country of origin and then he lives in Monaco… And then on top of that he still pays the UK tax requested (this I certainly don't understand why) but that comes out of his sponsorship purse BUT who cares when you can just make vids mention names without knowing what you should prior
Why does anybody support these drivers? Surely you should all be holding up signs at races saying "Pay your taxes! The rest of us do, why not you?"
He should annull his citizenship and then go live in monaco.
Everyone moving to Monaco to avoid paying tax is an asshole… Congratulations to France for making sure people can't avoid their taxes
how about charles?
So he lives in Switzerland instead
So where does Gasly live?
And who cares?? Monaco is over crowded. There are much nicer places in France, and Normandy!!
Because Monaco is a principality, not a fully sovereign country. It functions under the influence and protection of France. So France has a say about what French citizens and businesses can do in Monaco. The equivalent of the prime minister in Monaco is a French civil servant nominated by the French government in agreement with the Prince of Monaco, for example.
Why did you stop uploading what did driver drove to the race track series?
Yeah he can live in Monaco there's just no point lol
The whole of formula 1 is a tax avoidance vehicle.
thanks communist finance culture french
I think I could manage on $12 million a year
USA citizens too, but since yanks can't drive in F1 as the track is not a straight line or a circle then what's the point.
For the same reason Prost lived in Switzerland
Could just buy a passport at one of those random islands selling citizenships, renounce his french citizenship then move to monaco
Good that there is place in europe for the rich to not pay taxes.
Leave that to the working suckers.
Same for all Americans. Doesn’t matter where they live Uncle Sam will collect
10k penalty to ocon
Thieves and Hypocrites….. Hamilton may just be the worst of the scummys
Is Dubai an option ?
Dickheads. Tax evasion is antisocial.
Ocon then doesn’t live there too following this logic. Is he based in Italy like pierre?
Should be illegal within EU these kind of rules. Its weird that a Dutch can have no tax in Monaco, but a french born cant..
Thats pretty much against EU law
I think this should apply to the Sir's as well.
Scum bags. Ah well. At least Pierre can pop to the shop without running in to a track side rival.
Lol the French punishment
Except while living in France F1 drivers pay little to no income tax – they pay regular tax rates but the amount of actual taxable income they have is relative small. Why is that when they earn millions? Well it's fairly simple because the money they earn is not personal income rather most if not all F1 drivers and professional athletes are Gasly Inc. llc corp. etc. They're essentially a life insurance behind a living trust behind a company simply for tax and liability reasons. Paying a manager goes fro being an personal expense to being a tax write-off and hiring financial managers and accountants goes from being to being essentially free! Hiring your mom to do social media sponsor type stuff becomes tax free business expense etc. An NFL draft player got a 13 million dollar signing bonus but due to bad financial advice paid over 8 million in taxes from that. It's scary having to pay half a million to a million to accountants and lawyers to set your life before you even see a dime but it will save you millions in taxes in the long run and you will most likely not end up bankrupt and even if you do they can't touch your life insurance and everything going in and out is basically tax free.
Good for them I mean its hard out there with such a small salary 😂
renounce citizenship, not to sound like a chud, but france has truly fallen
We still have Andorra and Luxembourg!
How about Chinese
Same with AMERICANS. TAXES FOLLOW YOU EVERYWHERE…
Is that because France provides defense and other services to Monaco?
Esteban and hadjar are included in this
He must be living in Switzerland instead then …
Boooooo hoooooooooo……
Bahhhh these guys are rich enough that even when taxed they’re fine.
If your an American you also owe tax to the USA
Charles Leclerc?!