April 30, 2024 12:37
Photo: XPB Images
The FIA, Formula 1’s regulatory body, is considering leaving France after 120 years based in Paris. The entity alleges a lack of tax incentives for international sports federations.
In an official statement, the FIA admits the advantages of remaining in the French capital, but highlights the unfeasibility of continuing under the current tax scenario.
“Without a clear definition, through the recognition of a specific status for international sports federations, there is little hope of seeing the FIA’s activities develop further, despite all the indisputable advantages of Paris,” said Xavier Malenfer, relations director institutional and international FIA.
The federation criticizes the lack of a specific legal framework for entities such as the FIA, which end up being classified as associations without the same benefits granted to international organizations or companies.
“This situation has concrete consequences on their activities, taxation, and ultimately, on the interest of remaining in France”, explained Malenfer.
FIFA, football’s highest governing body, faces similar obstacles and has also expressed dissatisfaction with the French tax burden.
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