CR7 ‘closes’ tax battle with Spain
Portugal’s football superstar Cristiano Ronaldo always said he wanted to close the Spanish tax wrangle hanging over him before the World Cup in Russia, and he has… with hours to spare.
Breaking news today ahead of Portugal’s début match in Sochi – ironically against Spain – is that the country’s most famous athlete has agreed a deal whereby he receives a two-year suspended jail sentence and a fine of €18.8 million.
The fine is €10 million shy of what had been reported as the “worst case scenario” (click here).
A criminal conviction is one that has been handed to other world-class players caught-out avoiding tax on income derived from image rights.
But Spanish paper El Mundo suggests Ronaldo may try to push for a few tweaks to the deal before it is signed off by the director of Spain’s Agencia Tributaria.
The national team’s captain is said to prefer the idea of a fine to replace the suspended sentence, as a jail term could count against him if any further tax issues come to light in future.
As to the deal as it stands right now, El Mundo says it involves absolving all Ronaldo’s advisors of any blame, including Portuguese agent Jorge Mendes and lawyer Carlos Osório.
Both men have been accused of setting up the mechanism by which Ronaldo ‘hid’ 14.7 million euros-worth of image rights income for the purposes of avoiding tax.