Formula One drivers based in Switzerland may lose their low tax status after a decision by the Swiss governemnt to drop a ban on motor racing.
The ban had enabled the drivers to claim they were unemployed, thus paying little or no tax. The Swiss Upper House of Parliament is expected to ratify the policy change in the coming days. The decision is expected to affect the top F1 drivers such as Fernando Alonso, Kimi Raikkonen, Felipe Massa and Nick Heidfeld.
The ban had enabled the drivers to claim they were unemployed, thus paying little or no tax. The Swiss Upper House of Parliament is expected to ratify the policy change in the coming days. The decision is expected to affect the top F1 drivers such as Fernando Alonso, Kimi Raikkonen, Felipe Massa and Nick Heidfeld.