The Grand Slam’s winners will pay at least $2.9 million in combined taxes, though the runners-up will also pay hefty fees.
Key Facts
The U.K. taxes prize funds from Wimbledon and earnings from endorsements on equipment used in the tournament, and they also face an initial withholding tax of 20% before paying a tax up to 45% after related expenses are deducted, according to Andreas Bosse, an international tax legal consultant based in Monaco.
Wimbledon’s £3 million grand prize (about $4.05 million), awarded to both the women’s and men’s champions, would likely be taxed at an effective rate of 36.52%, Sean Packard, OFS Wealth’s tax director, told Forbes, lowering the winnings down to at least $2.5 million.
Swiatek will likely also pay an additional 4% tax in Poland, reducing her championship winnings by an additional $162,000.
Sinner, originally from Italy, will pay no additional taxes because his primary residence is in the income tax-free microstate of Monaco.
