Ronaldo – Tax Case
The recent Ronaldo tax case is a very interesting study. There is no question Ronaldo was acting on the advice of his professional advisors, yet he, not his advisors is the one left with a criminal conviction, a two-year suspended jail sentence and a payment for €18.9 million (£16.8 million) to settle his tax fraud case with Spanish authorities.
Ronaldo was accused last year of not paying €14.8 million in taxes between 2011 and 2014 using a shell company in the British Virgin Islands to disguise income earned on his image rights.
Ronaldo was shown to have benefited from a British Virgin Islands (BVI) company.
This was used to receive image royalties, prior to his becoming resident in Spain, allowing him to avoid income tax on foreign income.
