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Re: Top earners - where does the money come from?

• estjaan 8 Posts

  Tue, Jul 14 2009 4:22 AM

  As a beginner (3 weeks) I have not had the opportunity to read everything at the site. Although trying I could not find out how the tour price money is financed. The amounts good players are earning are becoming impressive.

  And what limits the number of countries allowed to participate in tournaments? Tax regulations? Is WGT working on increaing the access to them? If so, what is the prognosis?

   

• WGTalex 2,087 Posts

  Tue, Jul 14 2009 10:50 AM

  Hi estjaan, contest regulations and laws vary from country to country, so it is not simple to open them up to everyone. That said, we are working on ways to do this, but it takes time. Thanks for your patience.

• estjaan 8 Posts

  Tue, Jul 14 2009 11:41 AM

  Thank you Alex for rapid reply.

  IDEA: Start with the European Union. It has different tax and other laws than the US but I think the  regulations are quite synchronized, so I believe it is enough to negotiate with one country, like UK that seems to have many members, and it will be valid all over the EU.

  One problem is income tax declaration if the income is considered American. Many Europeans, would hesitate to take incomes, especially if they are small, from the US. This is because, once registered, the US tax authorities will require Tax declarations every year for the rest of your life even if you dont live in the US. 

  Therefore, I suggest you create an European Golf Tour for Europeans, located within the EU. There are simple rules for handling incomes within EU.