Edition 1437
19 August 2017
Edition: 1437

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Cristiano Ronaldo agents deny tax fraud charges

by TPN/PA, in News · 15-06-2017 12:45:00 · 0 Comments

Cristiano Ronaldo’s representatives have denied allegations that he defrauded the Spanish tax office of 14.7 million euros.

Cristiano Ronaldo agents deny tax fraud charges

The Real Madrid forward has been accused by Madrid’s regional state prosecutor of four counts of tax fraud relating to image rights payments.
The prosecutor alleged he used an off-shore company to hide a portion of his income from the tax office - but a statement from Ronaldo’s management company Gestifute insisted the company, Tollin, which was established during Ronaldo’s time with Manchester United, has acted in accordance with British and Spanish tax laws.
Tuesday evening’s statement read: “Cristiano Ronaldo signed for Real Madrid in 2009 under the Law of Impatriots, legislation in force and prevailing then, and he was taxed only for the incomes that were attributable to Spain.
“The Prosecutor’s Office says that the player declared the income derived from the transfer of image rights as income from movable capital to evade taxes.
“The laws applicable to Cristiano Ronaldo are the Personal Income Tax Law and the Impatriots Law. In Articles 25.4 and 13.1.F3, respectively, it is clear that the player’s income for image rights is considered to be movable capital and will only exceptionally be income from an economic activity.
“The player declared to the Tax Authorities 100 per cent of the part attributable to Spain of Tollin’s income and his image rights during the periods 2009-2014 and 2015-2020. All this according to the criteria set by the United Kingdom Treasury to determine that part of the image transfer revenue was originated in that country, which shows that there was no intention to defraud.
“In conclusion: the declared amount can be discussed, but it is clear that the football player did not try to evade taxes.”

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Edition 1437
19 August 2017
Edition: 1437

Read this week's issue online exactly as it appears in print.

Twitter