Cristiano Ronaldo, who recently led his team to victory in Champions League has been accused of evading taxes. The Spanish tax authorities have alleged that the footballer underreported his income and also hid his earnings, thereby, evading taxes worth £14.8 million but his reps have denied the accusations.
Cristiano Ronaldo has been accused by Spanish tax authorities of defrauding the income tax department. According to The Independent, Spanish authorities have filed a case against the Portuguese superstar for hiding taxes worth £14.8 million. They have also issued a public statement in this regard saying that the Real Madrid star shielded his income in Spain through a business setting. He did this in 2010 and his act of failing to pay the taxes has been described as conscious and willing.
Sources say that Cristiano Ronaldo exploited "the Beckham law" of Spain that permits foreign sportspeople to pay lesser tax. Instead of the regular 48% applicable to the Spanish, the foreigners are taxed 24.75% but the athletes have to pay taxes on other income that they earn in Spain. It is said that Ronaldo used a shell company in the Virgin Islands to evade the taxes but his reps have refuted the allegations, The Guardian claimed.
The agents of Cristiano Ronaldo, GestiFute have said that the footballer never had a tax issue and what the Spanish prosecutors are saying is not true. They maintained that there is no such offshore structure that helps in evasion of taxes and Ronaldo has been always up-to-date with his taxes. They also said that they have confirmed to all tax regulations and they have made contractual modifications that are in sync with the laws.
Last year also saw them releasing details of the footballer's assets after getting accused by the authorities. It may be mentioned here that before Cristiano Ronaldo, Lionel Messi has also been accused of tax evasion and was found guilty but he was let off after paying a fine.
