La liga
Madrid set to introduce new ‘Kylian Mbappe law’ following his stunning move to Real Madrid
The Community of Madrid is reportedly planning to introduce a new ‘Kylian Mbappe law’ following the Frenchman’s transfer from Paris Saint Germain to Real Madrid.
On Monday, Mbappe’s move to Madrid was officially announced 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.”
On social media, Mbappe wrote: “A dream come true. So happy and proud to join the club of my dream, Real Madrid.
“Nobody can understand how excited I am right now. Can’t wait to see you, Madridistas, and thanks for your unbelievable support. Hala Madrid!”
In light of Mbappe’s confirmed move to Madrid, it is claimed that a new law might be introduced in the Spanish capital.
According to Spanish news outlet Mundo Deportivo, the Community of Madrid is in the process of approving a ‘Mbappe law’, aimed at ‘eliminating the autonomous personal income tax for foreigners who settle in the capital of Spain and carry out investments’.
This law is believed to be similar to the ‘Beckham law’ introduced in 2005, which featured a tax regime allowing foreigners moving to Spain for work to pay a fixed personal income tax rate of 24% regardless of income.
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 suggested that the approval of the ‘Mbappe law’ could result in Madrid becoming a tax haven for the wealthy.
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