Max Verstappen stacks money in Luxembourg despite recent tax shift

Max Verstappen stacks money in Luxembourg despite recent tax shift

Max Verstappen

Any and all rights connected to intangible assets that are owned by a person or a business are safeguarded against unauthorised use collectively constitute intellectual property rights. Due to the significant tax advantages, many famous people in the past chose to establish their intellectual property rights in Luxembourg. The nation made the decision to limit the advantages for these holdings. Only individuals and businesses who manufacture goods in Luxembourg are permitted to continue using them. This change is enough for a lot of people to establish their intellectual rights through a firm that is not from the grand duchy. But not for Formula One World Champion Max Verstappen.

Even after the nation eliminated a tax incentive that had made it a shelter for celebrities safeguarding their copyrighted material. Max Verstappen continues to handle money coming from his trademarked name and logo through a Luxembourg firm. In an interview with the daily Lexembourg Times, Raymond Vermeulen, Verstappen’s manager confirmed. Verstappen was never worried about taxes, Vermeulen emphasized and as a result, he sees no need to transfer the trademark rights to some other nation.

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Considering the pattern, the question arose whether Max chose Luxemburg because of the convent location of the Jurisdiction or just to save up some money Verstappen’s management makes no attempt to explain why Verstappen previously choose Luxembourg in doing so, though.

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Related: Oscar Piastri discusses the goals for his first F1 season with McLaren

Daniel Ricciardo’s simulation work is not something Max Verstappen wants to depend on

Max Verstappen and Daniel Ricciardo during their Red Bull days

Even though Ricciardo will be driving as a third driver in 2023, one of the strongest team combinations in the sport has been brought back together. However, it is yet unknown what this would imply for the Australian driver. Red Bull has made it known that he will participate in promotional activities. He will also assist the team’s F1 training by working in the simulator. However, two-time World Champion Max Verstappen is one driver who prefers to complete the simulation job themselves. “I am convinced that this work is worth it. Also don’t want a test driver to take care of the simulation like other racing teams do. I want to do it myself, because everyone has their own driving style.”, says Verstappen referencing to Daniel Ricciardo.

Verstappen considers the Red Bull simulator to be among the finest available. Data from the car that the crew gathers on the racetrack is sent into the system. He also acknowledges that there are unavoidable gaps in the congruence between simulation and reality. And he wants to verify accuracy in addition to merely experiencing it.

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