Jannik Sinner continues to earn, on and off the pitch, but how much tax does he pay? The victory in the Final in Turin, where he beat Carlos Alcaraz in the final, was worth more than 5 million euros, 5.07 to be exact, the highest prize ever contested in the history of the ATP. But it is not just the on-court earnings, which have reached 17 million between tournament fees and exhibitions such as the mega-rich Six Kings Slam, that have increased the financial assets of Sinner, who uses the proceeds of his tennis ventures to also invest in the real estate sector.
The Italian tennis player has his tax residence in the Principality of Monaco, but what happens to the tax rate for the amount won by Sinner with the ATP Finals in Turin? “In Italy, I Sports prizes are subject to withholding tax of 20%“, Matteo De Lise, accountant and president of Aiecc ‘Italian Association of Crisis Management Experts’, explained to Adnkronos/Labitalia in the past.
In addition to tournament prizes, Sinner has signed contracts with various prestigious sponsors, including Nike, Lavazza, Fastweb and Gucci. According to Forbes, by 2024 he will earn around 20 million euros from endorsements. But how will they be taxed if the sample resides in Italy? “Income obtained from sponsorship is considered as income from self-employment and is subject to Irpef according to the specified brackets. For income over 50,000 euros, the maximum rate is 43%“, De Lise underlined.
According to experts, “if Sinner has paid tax on prizes won abroad, he can benefit from tax credits in Italy to avoid double taxationbased on international conventions”. “Tax management of professional athletes like Sinner – explains De Lise – is complex and requires careful planning to optimize the tax burden and comply with applicable regulations. In short, in addition to income from tournaments, Sinner also derives significant income from sponsorships, which are taxed in Italy according to the applicable Irpef rates.”
