Vision1 FM                       Light FM                         Light TV

Ronaldo 'Accepts Two-year Suspended Prison Sentence And Pays £12.1m' To End Tax Dispute

Cristiano Ronaldo has ended his dispute with the Spanish tax authorities by agreeing to pay £12.1million and accepting a two-year suspended prison sentence, according to reports in Spain.



Spanish outlet Cadena Cope claim the 33-year-old made the payment to the Spanish treasury last week but has also agreed to pay a further £4.7m in administrative costs, which will be made at a later date.

Ronaldo has, according to the same report, accepted a two-year suspended prison sentence. Spanish law allows sentences of two years and under to be served under probation, meaning he will not spend any time behind bars.

If true, it brings an end to a year-long investigation over what the Spanish authorities claimed was a 'voluntary' and 'conscious' bid from Ronaldo to avoid paying tax on his image-rights earnings between 2011 and 2014, totaling £12.8m.

Ronaldo was accused of ceding his image rights to a company in the British Virgin Islands so as to avoid paying tax on them in Spain. The Spanish Prosecutor claimed the company set up in the British Virgin Islands was a shell company established to defraud the taxman.

The Portuguese forward has always denied the accusations put against him, but has agreed to pay much of what the authorities claim was owed to them in order to avoid the prospect of a criminal trial.

Tax authorities in Spain have accused a number of prominent football figures of the same or similar schemes. Lionel Messi, Jose Mourinho Alexis Sanchez, Luka Modric and Neymar have all appeared in Spanish courts over alleged tax fraud in recent years.

Ronaldo has been in the news for very different reasons this month after completing a £100m transfer from Real Madrid to Serie A side Juventus. It brought an end to a nine-year stay in the Spanish capital and he hailed the prospect of a new challenge.

But La Liga president Javier Tebas believes Ronaldo would not have considered the transfer had the Spanish tax laws been more in his favour, saying the rate for high earners drove him to Turin.

Tebas said: 'I think that fiscally it favours him to go to Italy. Here, in Spain, we have a problem with fiscal competition.

'Out of the biggest leagues, Spain is where the players have the worst tax situation.

'It's not that elsewhere the rate is so much lower, but when you're earning significant sums then these little differences in rates translate to a lot of money for the players.'
 
 
Source: Dailymail.co.uk

More Politics

ALOT HAS BEEN ACQUIRED IN JUST 20 MONTHS -Bawumia. ALOT HAS BEEN ACQUIRED IN JUST 20 MONTHS -Bawumia. 2018-10-17 - Vice president Dr Mahamudu Bawumia has restate the resolve of...
Rawlings can never be my Hero -Kennedy Agyapong. Rawlings can never be my Hero -Kennedy Agyapong. 2018-10-16 - Kennedy Ohene Agyapong of theNew Patriotic Party (NPP)  and...
Prudential Bank not Collaspsing Prudential Bank not Collaspsing 2018-10-10 - The management of Prudential Bank Limited has asked its customers...
Solve the Economic Hardship and forget the big names. Mahama to Akuffo Addo Solve the Economic Hardship and forget the big names. Mahama to Akuffo Addo 2018-10-09 - Former president John Mahama has said the mere presence of...
We are ready for your insults.Mahama to Bawumia We are ready for your insults.Mahama to Bawumia 2018-10-09 - The campaign team of former President John Dramani Mahama has...

More News..

NADMO warns Consumers on expired Tilapia on the market NADMO warns Consumers on expired Tilapia on the market 2018-10-19 - The National Disaster Management Organization (NADMO) is warning...
SSNIT on registration and massive inspection. SSNIT on registration and massive inspection. 2018-10-19 - The Social Security and National Insurance Trust (SSNIT) has...
Call time charges to shot up November 1 . Call time charges to shot up November 1 . 2018-10-18 - Telecommunication organisations have announced their charges...
Killers of Adams Mahama with ACID confirmed. Killers of Adams Mahama with ACID confirmed. 2018-10-18 - Killers of Adams Mahama have been confirmed that Gregory Afoko...
Mrs. Rebecca Akuffo Addo, inaugurates two projects at Cape Coast Teaching Hospital. Mrs. Rebecca Akuffo Addo, inaugurates two projects at Cape Coast Teaching Hospital. 2018-10-18 - The First Lady of Ghana Mrs Rebecca Akufo-Addo has inaugurated...