ROME (Reuters) – Italy on Wednesday approved a measure allowing soccer clubs to settle their tax arrears over 60 instalments to be paid by 2027, responding to lobbying from hard-pressed teams whose finances were hit by COVID-19 lockdowns.
The amnesty, presented as an amendment to the 2023 budget, gives clubs preferential treatment for paying some 900 million euros ($956 million) in taxes which were due on Dec. 22.
Under the measure, the clubs will pay a small fine amounting to 3% of the outstanding taxes and will not suffer any sporting sanctions.
It applies to all sports clubs, but by far the biggest beneficiaries are the teams in Italy’s top-flight Serie A soccer league, which have together run up some 500 million euros of back taxes, lawmakers said.
The budget must be approved by both houses of parliament before the end of the year.
($1 = 0.9415 euros)
(Writing by Gavin Jones; Editing by Crispian Balmer)
