Spain’s football clubs cut their tax debt

SPAIN’S professional football clubs slashed their debt to the country’s tax authorities by €156.8, or 20.8% during the period from 1st January 2012 to 31st May 2013.

According to the authority’s figures, Spain’s first and second division football clubs owed €752.2m in January 2012, an amount they had cut to €595.4m by 31st May last year.

This downward trend is the result of the protocol signed by the Ministry for Education, Culture and Sports, the National Sports Council (CSD) and the Professional Football League (LPF) in April 2012 to control and reduce the clubs’ tax debt.

The above protocol was signed after the League itself approved economic control regulations to be progressively implemented over three seasons.

The Minster for Education, culture and Sport, José Ignacio Wert highlighted last December “the Professional Football League’s unconditional collaboration” in ensuring that clubs started cutting both their tax and social security debt.

Spain’s football clubs and sports limited companies (SADs) also reduced their accumulated debt with the country’s social security authorities by €6.4m between January 2012 and June 2013.