Daniil Medvedev says prize money totals ‘not as simple’ as they appear
Daniil Medvedev wants to clarify that while prize money figures seem lucrative, they are not quite as straightforward as you might think.
Daniil Medvedev has spoken on the subject of prize money in tennis and how the numbers shown to the public are not definitive.
“Yes, the numbers look very impressive,” Medvedev said in an interview for one of his sponsors, Tinkoff Bank. “My career prize money is $16 million, but it’s not that simple,” he added.
“First of all, at each tournament where you earn prize money you have to pay income tax.
“In Russia, it’s 13% for residents, 30% for non-residents. In France it’s 15%, in America it’s 30%,” and so on.
“But, it’s just the tip of the iceberg. If you earn really big money you need to bear in mind you could also be taxed at the end of the year.
“All in all, your taxes, travel and team expenses account for about half of your formal prize money earnings.”
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