Footballer Cristiano Ronaldo faces £12m tax fraud charges in Spain

Prosecutors in Spain have filed a lawsuit against Portuguese Real Madrid player, Cristiano Ronaldo, for an alleged €14.7m (£12.5m) tax fraud between 2011 and 2014

In a statement, the prosecutor's office said: ‘The accused made use of a corporate structure created in 2010 to hide from the tax authority income generated in Spain through image rights’.

The state prosecutor has accused Ronaldo of four counts of tax fraud from 2011-2014.

In Spain, foreign players are able to pay 24.75% income tax rather than the 48% applied to Spanish players, but they must pay tax on all other income made in Spain.

The accusations alleged that the player diverted advertising revenue through the British Virgin Isles.

Ronaldo becomes the latest football star to be targeted for tax fraud by the Spanish authorities. Barcelona player Lionel Messi was sentenced to a 21-month suspended jail sentence and receive a €2m fine last year for tax fraud and Neymar is currently facing trial over allegations of fraud and corruption relating to the striker’s transfer from Santos in 2013. In Spain any sentence below two years is suspended.

Before moving to Real Madrid, Ronaldo played for Manchester United until 2009.

Ronaldo’s agents have been approached for comment. 

Amy Austin |Reporter, Accountancy Daily [2016-2019]

Amy Austin was reporter, Accountancy Daily and Accountancy magazine, published by ...

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