Tag Archive for: Ronaldo

News Avatar

What about the others?

in /by

Another month goes by and the Spanish authorities hand out another criminal conviction to someone involved in top-level football. This time it is Jose Mourinho that has been handed a one-year suspended jail sentence for tax fraud along with an additional fine of £1.8 million by the Spanish authorities for tax evasion.

The fine equates to 60% of the €3.3 million (£2.9 million) of tax he is found to have avoided paying in 2011 and 2012. This related to image rights held in an offshore company while he was managing Real Madrid, according to reports.

Read more

News Avatar

Ronaldo – Tax Case

in /by

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.

Read more