Serie A has lost its version of ‘the Beckham Law’ after discussions with the Italian government.
The law, officially known as the Crescita Decree, allows for high-income earners from foreign countries to have a 50 per cent discount on their tax bill.
It is used as a means to attract foreign players to the Italian league and increase competitiveness in Serie A.
Advert
The Crescita Decree is remarkably similar to the 'Beckham Law' in Spain, which allows high-income foreign earners to pay just 24 per cent income tax for their first six years in the country.
The ruling was dubbed the “Beckham Law” after David Beckham became the most famous foreigner to take advantage of the rule after his Real Madrid move in 2003.
However, the Italian equivalent will no longer stand after discussions in the Italian Council of Ministers concluded that the ruling should be scrapped.
The change will come as a big shock to several Serie A clubs who rely on the rule to attract players.
In November AC Milan CEO Giorgio Furlani said via the Sun: "Stopping the benefits of the Crescita Decree will be the destruction of Italian football."
Advert
Meanwhile, Lazio president Claudio Lotito claimed that the ruling could “destroy” some of the giants of Italian football.
Lotito, told Notizie: "They [the government] will realise their mistake. The state will not receive money either.
"If you attract a foreigner who pays taxes in Italy, it will be better than one who does not come and pays nothing, right? Our league will lose competitiveness!"
He added: “Last year there were three Italian teams in European finals, now we will see.
Advert
“The next teams will be decided by the Footballers’ Association since they did everything possible to cancel the rule.
"Some clubs will be destroyed, and in the middle there are Milan, Juventus and Roma."
Featured Image Credit: GettyTopics: AC Milan, Serie A, David Beckham, Lazio, Italy