Red Star Belgrade settles £13m tax debt

March 23 - Serbian Red Star Belgrade have settled all their debts to the state, according to club general manager Zvezdan Terzič.

Red Star had debts of 13 million euros but settled them with the money they received from UEFA for their participation in European club tournaments.

“At the end of December 2022, we paid 5 million euros in tax debt, and today an additional 8 million euros. A total of 13 million euros or (1.5 billion dinars) have been budgeted for the Republic of Serbia this season,” said Terzič.

Terzič thanked the state for understanding the delay in payment and allowing its extension. The Red Star general manager also added that 85% of the club's income comes from abroad.

“Some of the debt to the state has been accumulated by previous administrations, and the rest is due to market disruption due to the coronavirus pandemic. We know that paying taxes to the state is the greatest proof of patriotism, and that is why we are proud that as a responsible group we fulfill our duties in this way. As sports ambassadors of Serbia, we are proud to represent the country even in tournaments of European clubs for the seventh consecutive year,” comments Zvezdan Terzic CEO.

Red Star are currently leading the Serbian league and are almost certain to win the title and qualify for the next edition of the Champions League.

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