Formula One’s teams received nearly four times more tax relief than the amount of tax they paid over the past five years according to new research. The tax affairs of F1 teams raced into the spotlight in July when British authorities asked a court in London to close the doors of the Force India outfit over an unpaid tax bill. As the table below shows, Force India was actually paid $66.7 million (£51.6 million) by the tax authorities, which is more than any other F1 team received. Corporation tax is calculated on pre-tax profits which is often the stuff of dreams for F1 teams. Unlike most businesses, profit is not the barometer of success for F1 teams.

Source: Forbes September 08, 2018 17:15 UTC