Corporate foreign exchange news

Brown makes foreign exchange pledge to Fifa

Friday, 18 December 2009 09:17:51 GMT

Published by Jamie Jemmeson
Gordon Brown has made a pledge to exempt Fifa from all international taxes, including those on foreign currency imports and exports, if the organisation agrees to hold the 2018 World Cup in England.
An investigation from the Telegraph has revealed that Fifa and all Fifa subsidiaries, domestic or international, will be entitled to a full tax exemption that is not limited in terms of duration.
"The exemption stated in this section shall encompass all revenues, profits, income, expenses, costs, investments and any kind of payment in cash or otherwise," states the guarantee.
It also makes it explicit that the government will also permit "unrestricted import and export of all foreign currencies" and unlimited exchange of US dollars, euros and Swiss francs.
For those who are heading to the 2010 World Cup in South Africa, researching the best exchange rates on travel money may help to keep budgets under control even as football fever sets in.
For competitive rates and commission free travel money, visit our Travel FX siteADNFCR-2522-ID-19519830-ADNFCR
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