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Rafael Nadal retires from tennis at the end of the 2024 season

by THEFUTURE.TEAM

October 11, 2024

The Spanish legend will end his professional career at the Davis Cup final, reports ATP.

KEY FACTS

Rafael Nadal announced that he will retire at the end of the 2024 season on social network X. “Hello everyone, I am here to inform you that I am retiring from professional tennis,” Nadal said in Spanish in the video.
The 38-year-old Spaniard will participate in his last. professional Davis Cup finals tournament in Malaga from November 19 to 24.
Rafael Nadal is a 92-time tour-level champion, and spent 209 weeks at No. 1 in the PIF ATP rankings.
He is a 22-time winner of Grand Slam titles, which includes a record 14 Roland Garros crowns.

KEY QUOTE

“Obviously this is a difficult decision and it took me a while to make it, but in this life, everything has a beginning and an end and I think the time is right to end a career that has been long and far more successful than I could have imagined.”

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WHAT TO WATCH FOR

Nadal will end his storied career on home soil in Malaga, where he will be part of Spain’s Davis Cup squad, which also includes Carlos Alcaraz. The host nation play their quarter-final match against the Netherlands on Tuesday 19 November at 17:00 local time. “I am very excited that my last tournament will be the final of the Davis Cup and the presentation of my country,” said the tennis player.

“I think I’ve come full circle because one of my first great joys as a professional tennis player was the Davis Cup final in Seville in 2004. I feel super, super lucky for all the things I’ve been able to experience.” Nadal, who is 12-7 so far in 2024, went on to thank his ATP Tour rivals, his team and his family (including his uncle and former coach Toni Nadal). Although his body has rarely allowed him to compete at full fitness over the past two seasons, the Spaniard’s characteristic dedication to the sport has not waned. He attributes part of his desire to continue playing for so long to the advent of his son, Rafael. “Coming home and seeing my son grow every day was the force that really kept me alive and with the energy to continue,” says the Spaniard.

SPANISH LEGEND

Rafael Nadal is extremely popular among fans all over the world. His powerful left-footed strokes, combined with his almost unrivaled desire to compete and his role as part of the ‘Big Three’ alongside Roger Federer and Novak Djokovic, mean that he will end his career as one of the greatest icons of tennis.

“Finally, you the fans – I can’t thank you enough for what you made me feel,” Nadal said at the end of the video. “You gave me the energy I needed at every moment. Really everything I experienced was a dream come true. I leave with the absolute peace of mind that I have given my best and that I have made an effort in every way. I can only end with a thousand thanks to everyone and see you soon.”

FORBES ESTIMATES

According to our estimates, Nadal is the sixth highest-paid tennis star in 2024 with an income of $23.3 million. About $23 million of that amount is off-court income from various endorsement deals, as injuries kept him out of most major tournaments this past year. The exception is the French Open, where he lost in the first round to Alexander Zverev.

The Future Forbes Realty Global Properties

Cyprus Introduces 8% Crypto Tax As European Rules Diverge

Fragmented Crypto Tax Rules Across Europe

Although the European Union has introduced a common regulatory framework for digital assets through the Markets in Crypto-Assets Regulation (MiCA), taxation remains under the jurisdiction of individual member states. As a result, crypto investors face a wide range of tax regimes across Europe.

Cyprus Introduces Dedicated Crypto Tax Framework

Beginning January 1, 2026, Cyprus will implement a dedicated taxation regime for digital assets. The new framework imposes an 8% flat tax on net gains from cryptocurrencies such as Bitcoin and Ethereum, making it one of the lowest rates within the European Union. Taxable events will include the sale, exchange, or use of cryptocurrencies for payments and donations. Losses will only be offset against gains generated from crypto transactions within the same tax year, with no provision allowing losses to be carried forward.

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Diverging Approaches Across Europe

Several European countries have adopted markedly different policies. Greece is preparing legislation that would introduce a 15% capital gains tax on cryptocurrency profits, with the first €500 of gains exempt from taxation. Germany classifies cryptocurrencies as private assets. Gains are generally exempt from tax if the assets have been held for more than one year, distinguishing the country from many other European jurisdictions.

Other Key Jurisdictions

Portugal continues to offer favorable conditions for long-term investors, with private individuals generally exempt from taxation if digital assets are held for more than 12 months. Switzerland treats cryptocurrencies as part of personal wealth, subject to annual cantonal wealth taxes, while capital gains realized by individual investors are typically exempt. France applies a flat tax of 31.4% on cryptocurrency gains, combining income tax and social contributions. Italy recently increased the tax rate on crypto gains for individuals to 33%, up from 26%, while Spain applies progressive rates ranging from 19% to 30%, depending on the amount of profit realized.

The Netherlands And The Baltic States

The Netherlands uses a different model, taxing presumed returns on assets regardless of whether they have actually been sold. Tax treatment in the Baltic region varies. Lithuania generally imposes a 15% rate, rising to 20% for very high non-salary income. Latvia applies a 25.5% capital gains tax, while Estonia taxes cryptocurrency gains at the standard personal income tax rate of 22%, without exemptions for long-term holdings.

A Diverse Tax Landscape

Approaches to cryptocurrency taxation continue to differ significantly across Europe. Cyprus’ upcoming framework places the country among jurisdictions offering relatively low rates and dedicated rules for digital assets, while investors operating across borders continue to navigate a patchwork of national tax regimes.