TRUE OR FALSE. Will there soon be a “Mbappé law” for a tax reduction in Madrid?

While the captain of the France team has just signed for Real Madrid, Internet users assure on social networks that he will benefit from a law specially invented for him. A regulation must indeed be voted on in Madrid but it was not created especially for him.

Barely arrived at Real Madrid and already has a law in his name? While Kylian Mbappé has just signed for the club in the Spanish capital, on social networks, some Internet users assure that the player will be able to benefit from a tax advantage thanks to a law specially invented for him, the “Mbappé law”. Is it true or is it false?

It’s true, there is indeed a law under discussion. The text is not officially called “Mbappé law”, but in Spain, all the media and observers call it that. The president of the Community of Madrid, Isabel Diaz Ayuso, is proposing this new regulation to attract foreign investors. In Spain, there is a national tax and a regional tax. The idea of ​​the text is to eliminate the regional tax in Madrid, for foreigners who have just moved to the capital, provided that they invest in the local economy and for at least six years, as specified in the proposal of settlement. The text has not yet been voted on but it could be adopted in the coming weeks.

Why nickname this law after the player? Quite simply because its ratification coincides with the player’s arrival at Real Madrid. Furthermore, the text targets foreigners with income above 300,000 euros per year and who have just moved to Madrid. We therefore quickly think of footballers and of course Kylian Mbappé. But in reality, the text had been in the pipeline for more than a year. Last year, it was not approved by the elected officials of the Community of Madrid, Vox supporters voted against. But since the last local elections, the conservative party, the PP, which supports the text, is in the majority. It should therefore logically be adopted.

This is not the first time a law has been named after a football player. In 2005, two years after David Beckham’s arrival at Real Madrid, the “Beckham” law came into force. Since this date, and under certain conditions, foreigners who settle in Spain pay a flat-rate tax, set at 24%. Once again, and despite what the nickname of the law suggests, it does not only benefit footballers but all foreigners who have just moved to Spain.