REPORT on Seminar of 21 & 22 October 2004

During this first seminar organized by NOLOT BV around fifty tax, law and financial professionals from the sports sector gathered in Amsterdam. The presentations of the 10 speakers (from 8 countries) were highly rated by the delegates, as were the possibilities for networking during a boat trip during the late afternoon of the first day.

Significant news concerned the high withholding tax burdens on international sports activities, and the problems practitioners face when trying to minimize the tax burden for athletes during the often few years that they earn a sometimes very high salary. It appears that in some countries the possibilities for such mitigation are much smaller than in others. In particular Belgium, Spain, Italy and the UK seem to offer attractive possibilities whereas in e.g. Germany and the Netherlands it is quite difficult to mitigate the immediate tax burdens.

Attention was also paid to the position and the functioning of the Court of Arbitration in Lausanne, and the functioning of the EC State Aid Rules. Mr Harry van Raaij, former Chairman of PSV Eindhoven shared with the interested audience his view on the possible future development of professional football. Copies from the conference material are available with the organiser NOLOT BV (