Due to Spanish legislation on cash prizes in sporting competitions, we have to deduct the following:
– 21% VAT applies automatically to all the registration fees
– All cash prizes are subject to a tax at the rate of 24%
We’ll transfer the money to your bank account, but in other to do that we need the players to send a email containing passport number and the accounts IBAN number.
The payout for the pro divisions (before the 24% flat tax deduction):
According to the PDGA rules:
Cash or prizes may not be evenly split between any players tied for first place. Final ties for other ranks shall be officially recorded as ties. Prize money distribution to tied players (other than for first place) shall be determined by adding the total money allocated to the number of positions represented by the tied players and dividing that by the number of players tied. Trophy distribution for ties may be determined by sudden-death play or by any related disc golf skill event determined by the Tournament Director, but only for the purpose of awarding trophies; the players must remain officially recorded as tied in the results.
We’ll be contacting all the players that have prizes later this week, in order to get the necessary info to transfer the money to their respective accounts.
