By Admin 
- Tax on income of coaches and staff also, no US exemption.
Spain FIFA World Cup prize money:Spain won the FIFA World Cup title by defeating Argentina 1-0 in the final of the 2026 FIFA World Cup last Sunday.
The Spanish team that won the title also received 50 million dollars (about Rs 481 crore) as a prize, which is the largest amount ever given to any winning team in the history of the Men’s World Cup. This amount is more than the $8 million prize money given to Argentina in 2022.
Spain will not get the full amount
It is being told that Spain is not going to get this entire amount because the US Internal Revenue Service (IRS) will collect some part of it as tax. As we all know that America also hosted the World Cup this year.
According to US tax law, it is mandatory to pay tax on earnings or prize money earned within the US border. Even if that team or player is from another country. Experts also say that it does not matter which country wins the World Cup, the IRS will collect tax on the income earned in America. In addition to federal taxes, players will also have to pay provincial taxes in states like New Jersey, where the final match was played.
Preparations are underway to collect tax from them too
It is also being told that IRS can collect tax not only from the players but also from the coaches, team staff and referees who earned bumper money during the tournament in America. This time the World Cup had a total prize money of $655 million, which was distributed among the 48 participating national teams on the basis of their performance.
Apart from the prize money, many players also earn additional money from sponsorships, endorsement deals, paid appearances and other commercial activities related to the World Cup. This additional income may also have to be taxed, depending on where the money is earned. Tax experts say that the World Cup is one of the most difficult sports events in terms of tax.
Let us tell you that in the last World Cup, countries like Qatar and Brazil had given tax exemption to FIFA, but like them, America is in no mood to keep the players’ earnings out of the tax net.
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