Fiscal opportunities of a restructured sports sector: Football as pilot (1)
In today’s world, the reality is that sports is a business. Perhaps this is why there is always that distinction between those who pursue a particular sporting activity as hobbies or means of relaxation from those who derive their livelihood from same platform.
Taxation of entertainers and sportsmen in Nigeria – What, how and where?
It is trite that around the world, entertainers and sportsmen are some of the highest paid individuals. Their sources of income are vast, ranging from performance and appearance fees to endorsement deals, royalties from image rights, tournament participation fees, etc. These incomes are often earned in multiple jurisdictions, which can potentially make accounting for appropriate taxes complicated. It is thus no surprise that many advanced economies have special tax regimes for such individuals, both resident and non-resident, to ensure that no potential tax revenue is permitted to escape assessment and collection.