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post #45 of (permalink) Old 05-17-2006, 11:03 AM
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Re: More News

Agassi Loses 27,500-Pound Tax Dispute at U.K.'s Highest Court

May 17 (Bloomberg) -- Tennis star Andre Agassi lost a 27,500 pound ($52,000) tax dispute at Britain's highest court, blocking other sports and entertainment figures from reclaiming millions from British tax authorities.

Agassi, an eight-time grand slam winner who has earned $31 million in prize money throughout his career, challenged the U.K. taxation of sponsorship payments made by Nike Inc. and other non- British companies to his own company, Agassi Enterprises Inc., while he played at U.K. tournaments such as Wimbledon.

``Foreign entertainers and sportsmen who, or whose controlled companies, receive payments in connection with their commercial activities in the United Kingdom should be subject to'' tax, Lord Richard Scott wrote in the House of Lords decision today.

Agassi, 36, lives in the U.S. and has been married to former tennis champion Steffi Graf since 2001. He officially withdrew from the French Open tennis tournament last week, after saying he would skip the clay-court season to rest a bad back and focus on grass court events such as Wimbledon.

The case is CH/2003/APP/0693, Andre Agassi and S Robinson (HM Inspector of Taxes.)
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