Jannik Sinner has had a blast in 2024 with stunning performances throughout multiple events. He not only clinched the World No.1 title but also took home two Grand Slam trophies. Oh, and not to mention the victory at the ATP Finals a week ago. While he proved his mettle on the court, the Italian reaped great rewards as well for his sporting skills. He managed to pocket massive paychecks in major events, without having to worry about paying taxes – thanks to being a resident of Monte Carlo. But not everyone is in favor of this current tax-exemption system in Monte Carlo and that includes politicians as well.
Minister of Sport and Youth in Italy, Andrea Abodi recently talked about Sinner who’s playing for his country at the Davis Cup in Malaga. He will represent Italy in Sunday’s title clash against the Netherlands. In an interaction with Radio1, as reported by TuttoSport, dated November 22, Andrea Abodi was asked about his stance on Sinner not paying taxes in Italy.
For those unaware, the World No.1 has been residing mostly in Monte Carlo, in Monaco, for the past six years. Now, Monte Carlo is a tax haven for celebrities and athletes. Why? Simply because it exempts them from paying huge tax amounts. It has emerged as a preferred destination for anyone who doesn’t want to give away a huge sum of their earnings in taxes in their own countries.
ADVERTISEMENT
Article continues below this ad
Speaking on the matter, Mr. Abodi said, “I would like him to pay them (taxes) here in Italy.” He acknowledged that “he is doing something perfectly legal, it is permitted to those who live at least ten months a year around the world to pay taxes in the country where they reside most.”
But Abodi still wishes for Sinner to pay his earnings at home. “The point then is to understand if we, always with a law, will create the conditions to provide that he pays here what he pays there,” added Mr. Abodi.
When asked why Sinner should then pay less than other Italians, the minister replies: “Simply because he lives abroad ten months a year anyway.” Well, Sinner has actually struck gold this year!
ADVERTISEMENT
Article continues below this ad
Jannik Sinner total career prize money crosses $30 million
What’s your perspective on:
Is Jannik Sinner's tax strategy smart or unfair to his fellow Italians paying full taxes?
Have an interesting take?
Jannik Sinner had a dream run this season in terms of increasing his earnings. Thanks to his dominance on the tennis court, he also succeeded in accelerating his career prize money total. Just in case anyone forgot, he also made $6 million in Riyadh after winning the Six Kings Slam event last month. However, being a non-ATP tournament, its winning amount isn’t included in his official earnings. Still, he has made a lot!
While Sinner made close to $17 million in prize money this year, his total career prize money ahead of the ATP Finals in Turin was $29,108,484. After winning the season finale, beating Taylor Fritz 6-4, 6-4 in the title clash, he won another $4,881,100. Thus, his overall earnings skyrocketed to a whopping $33,989,584. With that, he has entered the list of Top 10 highest ATP career prize money earners.
ADVERTISEMENT
Article continues below this ad
Not only that, Sinner is also the third tennis player, born in the 2000s, to surpass $30 million in career prize money. Before him, only Iga Swiatek ($33,141,991) and Carlos Alcaraz ($36,876,485) achieved this feat. What’s worth noting is that Jannik Sinner made half of his total career prize money this year alone!
On a lighter note, though, the Fox had an amusing reaction even after hitting a jackpot in Turin last week. “I actually believe there is still a gap of improvement. I mean, today I served very, very good at times, which was not the case throughout the whole tournament,” said Winner Sinner. What a humble guy, isn’t he?
Have something to say?
Let the world know your perspective.
Debate
Is Jannik Sinner's tax strategy smart or unfair to his fellow Italians paying full taxes?