Dutch athletes taxed on Olympic winnings

Dutch athletes who win prizes in the Olympics Games currently ongoing in Rio de Janeiro, wil have to pay a significant part of their winnings over to the Tax Authorities. The Tax Authorities regard the prize money as salary, and the athletes therefore have to pay income tax on it, AD reports. During their time at the Olympics, Dutch athletes are technically in service of the NOC*NSF. The sports organization pays the prize money, which means it qualifies for income tax. According to the newspaper, depending on the amount won, the income tax can be a significant chunk of the winnings. Prize money amounts to 30 thousand euro for a gold medal, 22,500 for silver and 15 thousand for bronze. On those amounts between 40 and 52 percent income tax can be charged. As of Thursday morning, Dutch athletes won a total of 15 medals in the Rio Olympics – 8 gold, 4 silver and 3 bronze. The latest one was a silver medal won by athlete Dafne Schippers in the 200 meters.