According to British Formula One journalist Joe Saward, an F1 team has allegedly taken advantage of its government’s policies to circumvent the Cost Cap. Saward claims that during the Monza weekend, one of the topics of discussion was the budget limit. However, Joe Saward mentioned an interesting development related to one of the ten teams.
“I’ve heard about a scheme that one team is using, allowing them to receive tax benefits from their government for five years. It involves reduced taxation for highly skilled foreign workers, which means the team can offer (and declare) lower salaries compared to their rivals. But the employee ends up with more money because there are no taxes to pay,” he said. In the days following, the FIA stated that all teams were within the spending limit. Therefore, if true, this solution would not be an issue for the Federation.
A few days ago, the FIA cleared all Formula 1 teams after a thorough review of their accounts for the year 2022. No team exceeded the budget cap, and the FIA Cost Cap Administration announced that it had issued a compliance certificate to all teams. There was no repeat of the story from last year when Red Bull received a financial penalty and a 10% reduction in allocated aerodynamic tests for exceeding the limit by 1.8 million dollars.