The Community of Madrid is reportedly set to introduce a new ‘Kylian Mbappe law’ after the Frenchman’s transfer from Paris Saint Germain to Real Madrid.
On Monday, Mbappe’s move to Madrid was officially confirmed after months of speculation.
A club statement read: “Real Madrid CF and Kylian Mbappe have reached an agreement whereby he will be a Real Madrid player for the next five seasons.”
Taking to social media, Mbappe wrote: “A dream come true. So happy and proud to join the club of my dream, Real Madrid.
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“Nobody can understand how excited I am right now. Can't wait to see you, Madridistas, and thanks for your unbelievable support. Hala Madrid!”
On the back of Mbappe’s move to Madrid being confirmed, it has been claimed that a new law could be introduced by the Spanish capital.
As reported by Spanish news outlet Mundo Deportivo, the Community of Madrid is in the process of approving a ‘Mbappe law’, which is set to ‘eliminate the autonomous personal income tax for foreigners who settle in the capital of Spain and carry out investments’.
It is believed to be similar to the ‘Beckham law’, which was introduced in 2005. That law contained a tax regime that allowed foreigners who moved to Spain to work to pay a fixed personal income tax fee of 24% regardless of income.
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The report stated: “The Community of Madrid has been processing this new law for a long time and is in the final stretch of its approval in the Assembly of Madrid.
“This tax deduction is for new taxpayers, whether nationals or foreigners who invest in the capital and the purchase of a home is not included in the rule.”
However, a professor of Financial and Tax Law at the Universitat Rovira i Virgili claimed that the approval of the ‘Mbappe law’ could lead to Madrid being a tax haven for the rich.
Topics: Real Madrid, Kylian Mbappe, Football, Spain
Marcus Chan