Home Business Spain could lose 30% of $50m World Cup prize to US taxes — Report

Spain could lose 30% of $50m World Cup prize to US taxes — Report

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Spain could lose 30% of $50m World Cup prize to US taxes — Report

Spain could forfeit up to 30 per cent of the $50 million prize money it earned for winning the 2026 FIFA World Cup to United States federal taxes.

PUNCH Online reports that under US tax laws, income earned from activities performed in the country is generally taxable.

Payments to non-resident foreign athletes are typically subject to a 30 per cent federal withholding tax unless reduced by a tax treaty or another exemption.

Spain clinched the 2026 FIFA World Cup title after defeating Argentina 1-0 in the final at the New York New Jersey Stadium on Sunday, July 19.

According to FIFA, the champions will receive 34 million, as part of the governing body’s record $871 million prize fund for the expanded 48-team tournament.

Reacting to the potential tax burden, Republican Congressman Tim Burchett of Tennessee, as reported by Fox News on Tuesday, described it as excessive.

“I think it’s a

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