BUSINESS

Taxes on sportsmen and entertainers

Business, Lawalliance Limited Company, Published on 31/07/2012

» The 2012 London Olympics have begun, and medallists bringing glory to their countries have long garnered fame and perhaps even a spectacular reward. The same can be said for the winners in other big games _ Wimbledon, the World Cup, Uefa or the Asian Games to name just a few. However, as Benjamin Franklin famously wrote, "In this world nothing can be said to be certain, except death and taxes." Sportsmen and entertainers too are liable to tax unless their government waives liability as a reward or encouragement. Thailand promotes itself as a regional tourism centre with a number of entertainment and sporting events designed to attract participants and tourists alike, so it is interesting to review the tax implications for sportsmen and entertainers.