Abolition of the The Beckham Law hits Ron in the pocket

• zocoss

  9 Jan 12, 18:05

  Ron hit in pocket, and gets a rocket

  

  TARGET Ron... Spain's new top rate of income tax forcing top stars to cough up more than half their wages

   

   

   

  CRISTIANO RONALDO'S future at Real Madrid is unclear because of Spain's new top rate of income tax.

  Premier League bigwigs owe a big debt to Spain's government for abolishing Beckham's Law and forcing top stars to cough up more than half their wages.

  Last year the Spanish government scrapped a loophole named after David Beckham that allowed elite foreign workers — including professional sportsmen — to pay 24 per cent tax, HALF the top rate in Spain.

  Becks was the first to benefit after its introduction just before his 2003 switch from Manchester United.

  But news this week La Liga's high earners will pay 54 per cent of their earnings to the taxman means the Prem can now compete to attract the best in the world again.

  Jose Maria Gay, economics professor at the University of Catalunya, said: "Now foreign players will be more expensive.

  "Before, thanks to the cushy Beckham Law, we were among those who paid the least in that area and now we are among those who pay the most.

  "It is 54 per cent — 56 per cent in Catalunya.

  "The repeal of the Beckham Law along with the rise in income tax is a bad joke."

  Spain's big-hitters are faced with disastrous consequences.

  Real Madrid and Barcelona's wage bills stand to increase by tens of millions and already the effects are starting to show.

  Eric Abidal is out of contract at the Nou Camp in the summer and he's stalled on a new deal because of the tax rise.