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Former Olympian David Douillet has taken offense to a decision by the French government to tax Olympic medal winners on their bonuses in the Games. He ripped his country this week with the event continuing on in Paris.
Douillet, who competed in the 1996 and 2000 Olympics, voiced his frustrations this week.
“For some athletes, it’s pocket money, and for others, in small sports, it’s huge. Taxing that? I think it’s a shame,” he said. “It’s true that it may seem like a lot of money, but you have to be aware of one thing: when an athlete gets 80,000 euros, do you know how long it takes him to get his charm?
“Between 10 and 15 years old. And it’s more like 15. If you spread 80,000 euros over 15 years, you’ll see what it is. And on top of that, you have to pay taxes on it? It’s scandalous.”
Douillet noted not only the taxes the country imposes, but also the time it takes for athletes to be fully paid out for their medal wins.
According to Metro, French Olympians are paid 80,000 euros for gold, €40,000 for silver and €20,000 for bronze.
Medalists are then forced to repay some of those winnings to their government.
Do US athletes pay taxes on Olympics medal winnings?
It differs slightly from what we see in the United States.
“Olympic and Paralympic Games medals and prize money are typically not federally taxed unless you have very high income,” says the US Olympic and Paralympic Committee.
The IRS notes that “Olympics medalists who have adjusted gross incomes of less than $1 million don’t have to count the value of their medals and cash prizes toward their taxable income.”
So, while some of those US basketball stars might have to pay up on their winnings, smaller sport athletes won’t have to do so.
US medal payouts have been a topic of discussion throughout the Games, with the country’s $37,500 reward for gold paling in comparison to other nations throughout the world.
For that reason, we’ve seen a number of celebrities help fund team stays in Paris, and even offer to open up their own checkbooks for prize money to bridge the gap for American medalists.
While the payouts might not be as high in the US, at least the tax situation seems a bit better than what French competitors are currently dealing with.