Real Madrid star accused of evading millions euros

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Spanish prosecutors accused Real Madrid star footballer Cristiano Ronaldo of evading 14.7 million euros in tax through offshore companies.

The 32-year-old world’s highest-paid athlete according to Forbes magazine Ronaldo follows in the steps of Argentina star Lionel Messi, who was found guilty of the same offence last year although the capital involved were allegedly smaller.

The Gestha union of experts at Spain’s Inland Revenue said in a statement that If Ronaldo  put on trial and found guilty, a fine of at least 28 million” euros ($31.3 million) will be imposed and could potentially be jailed for three and a half years.

He is accused of “four crimes against the public treasury between 2011-14 which involves tax fraud of 14,768,897 euros ($16.5m, £12.9m)”, Madrid’s public prosecutor’s office said in a statement.

“The accused took advantage of a company structure created in 2010 to hide income generated in Spain from his image rights from tax authorities, which is a ‘voluntary’ and ‘conscious’ breach of his fiscal obligations in Spain,” it said

Prosecutors accuse the Portugal international of evading tax via a shell company based in the British Virgin Islands and another in Ireland, known for its low corporate tax rate. They said he only declared 11.5 million euros of Spanish related income from 2011 to 2014, while what he really earned during that time was close to 43 million euros.

Finally, they accuse him of “voluntarily” refusing to include 28.4 million euros in income linked to the sale of his image rights for the 2015 to 2020 period to a Spanish company.

Ronaldo’s Antonio Lobo Xavier lawyer said the four-time World Player of the Year was stunned by the accusations.”It’s a total surprise for the player who feels wronged, which gives me a special responsibility to speak in his name of his feeling of sadness and injustice,” Antonio told Portuguese television.

Ronaldo declared his income in relation to his image rights in 2014, which also included the three previous years.” In a television interview last month when it was revealed that tax authorities had sent a report to prosecutors on Ronaldo’s alleged fiscal evasion, Ronaldo had said he was “very serene.”

Source: AFP

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