Max Verstappen, the two-time Formula 1 champion and current leader in the championship race, is currently under investigation for alleged tax evasion amounting to millions of euros.
Heading into the 2023 Formula 1 season, Red Bull driver Max Verstappen has accumulated an impressive 170 points, positioning himself as the favorite to secure his third title. However, recent reports indicate that he is under scrutiny for purportedly evading taxes worth 200 million euros.
Allegations of 200 Million Euros Tax Evasion
Verstappen’s alleged involvement in such a substantial tax evasion case could potentially disrupt his sporting focus, although his agent, Raymond Vermuelen, vehemently denies the accusations.
Following the public disclosure of the allegations, Max’s agent, Raymond Vermuelen, promptly clarified that Verstappen is in full compliance with tax regulations, expressing confusion over the existence of the accusations.
To date, neither Formula 1, Red Bull, nor Max Verstappen have issued official statements regarding the allegations.
All Claims Dismissed
Verstappen’s representative, defending the Formula 1 champion, categorically dismissed the accusations, declaring them completely false and inaccurate. According to the representative, Verstappen pays taxes on his sporting performances in the Netherlands, as well as on the income he generates during race weekends in Zandvoort. They maintain that taxes are duly paid in other countries where Verstappen generates income.
“It is completely false and incorrect what they wrote, we pay taxes on the sporting performances we offer in the Netherlands, as well as the income he earns during the weekend in Zandvoort, just as we pay taxes in other countries where he generates income,” clarifies Vermuelen.
Accurate taxation matters says Vermeulen
The representative further stated that they have no other business activities within Max Verstappen’s home country of the Netherlands, raising questions about the necessity of paying taxes on foreign income there. They argue that it would be illogical to face double taxation:
“Why do we have to pay tax on foreign income there? It would be strange if we pay twice?”
The principle of preventing double taxation on the same item forms the basis for their assertion that paying taxes twice would be unjustifiable under tax law.