Schumi on the dole?

[Heebeegeetee]

Hi All,

Is there any truth in this?

A friend has told me that he heard a story on the radio that went along the lines of - In Switzerland you are not allowed to be a racing driver. Therefore Schumi, a resident, has registered himself unemployed, and to make a point has either recieved, or attempted to recieve, unemployment benefit.

Anyone know anything of this?

[Adam43]

Motor racing is banned in Switzerland, but I don't know if that extends to actually being a racing driver. However there was actually a Swiss GP in 1982 (abeit in France), so the Swiss aren't totally against it - as long as it isn't on their ground. I also understand that they have some hill-climbs. I suspect this story is apocryphal, but I don't know.

[Adam43]

However a quick google gives some backing to the story:
http://uk.sports.yahoo.com/08022006/...nemployed.html
http://www.doctorvee.co.uk/2006/02/0...trangest-laws/
http://formula-1.updatesport.com/new...oyed/view.html

It seems there might be something in it.

Overall I am surprised Switzerland let someone move to their country that was "unemployed".

The Evening "Standard" has this to say: http://www.findarticles.com/p/articl...7/ai_n14658393
The key is "allows him to negotiate his tax with Swiss authorities" so it seems that teh unemployment tag is irrelevant. Although interesting that he registers himself as that. Overall the article shows that socialist don't like it.

[TerriZ]

That is what it's all about.

By NOT earning his money in Switzerland he was able to make a deal with the tax-authorities in Switzerland. so he pays considerably less tax then he would, as a "normal" Swiss (surely much less than half, about 1/3!!).
And with Schumi they're 4 or 5 other F1-racing driver, which do exactly the same.
But in my country it's quite simple: the question is: Is 1/3 of millions more than 100% of nothing??

[Peter Mallett]

Hi TerriZ welcome to our forum.

We have many different subjects and forums on the site so take a look around.

As you know racing drivers have been residing in Switzerland for many years. Jackie Stewart, Francois Cevert and (IIRC) James Hunt once had a home there too.

[Big-O]

Isn't Kimi there to ???

But never the less, why don't the Swiss government try to get those money through taxes ... just recognize "Race driver" as a job and cash in big time ??? It's a shame that men like TGF and Kimi have to register as unemployed ... I mean that must be demoralizing for them

[Peter Mallett]

Originally Posted by Big-O

Isn't Kimi there to ???

But never the less, why don't the Swiss government try to get those money through taxes ... just recognize "Race driver" as a job and cash in big time ??? It's a shame that men like TGF and Kimi have to register as unemployed ... I mean that must be demoralizing for them

Yep saving (allegedly in MS' case) the tax on $49,700,000.00 each year would certainly demoralise me too.

[Adam43]

Originally Posted by Big-O

But never the less, why don't the Swiss government try to get those money through taxes ...

Originally Posted by TerriZ

But in my country it's quite simple: the question is: Is 1/3 of millions more than 100% of nothing??

[Marbot]

Wonder if he gets free dental treatment etc?

[Kempi]

He is not registered as unemployed in Switzerland. But because he is not earning his money there, his taxes are allocated in the way it is allocated for an unemployed: by determening the worth the home would have were it rented.

It would make no difference if he was registered as "race driver" because he is not earning his money in Switzerland but in Italy.

[Bononi]

Interesting, that would make many "rich people" that makes money through the world consider living in Switzerland.

[maltafan]

People living in Monaco pay no taxes either. That is why lots of VIP's have houses there.

[Mr V]

Originally Posted by AdamAshmore

Overall I am surprised Switzerland let someone move to their country that was "unemployed".

There's a difference between being "unemployed and potless" and being "unemployed and Michael Schumacher"

[Heebeegeetee]

Interesting replies, Ta ever so.

[Big-O]

Originally Posted by Peter Mallett

Yep saving (allegedly in MS' case) the tax on $49,700,000.00 each year would certainly demoralise me too.

Hehehe, you got my point

[Bononi]

Originally Posted by Mr V

There's a difference between being "unemployed and potless" and being "unemployed and Michael Schumacher"

Maybe the swiss government ignores a german fellow, who drives Ferraris in many circuits around the world, and earns more than a small african country and, thinks F1 overall is a completely waste of time...

[Peter Mallett]

Originally Posted by Mr V

There's a difference between being "unemployed and potless" and being "unemployed and Michael Schumacher"

Who has over the years obtained many, many, pots of course.

[Mackmot]

They wont change things, by having superrich living there giving them 10% of the billions they earn makes the country much richer than if it had no superrich being charged 40%

[Dutton]

If you are hyper-mega-bega-billions-squillions loaded (I know, I know, the technical jargon there is rather hard to understand), then the UK is one of the best tax havens in the world.