Ronaldo denies tax evasion


Cristiano Ronaldo’s representatives have strongly denied an accusation that the Real Madrid forward concealed earnings and defrauded the Spanish tax authorities out of €14.7 million.

Earlier on Tuesday, prosecutors in Madrid filed a complaint to a court in Pozuelo de Alarcon that accused the four-time Ballon d’Or winner of a “voluntary” and “conscious” breach of his tax obligations.
The complaint suggested Ronaldo had created a “business structure” in 2010 to conceal earnings from image rights between 2011 and 2014.

Ronaldo accused of €14.7m tax evasion  
However, Gestifute – the company owned by the 32-year-old’s agent Jorge Mendes – issued a statement detailing their client’s arrangements for payments related to his image rights and insisted “there has never been concealment, or the slightest intention to conceal”.

Gestifute said the company, Tollin, does not amount to an offshore structure for evading taxes and was established in 2004 when Ronaldo signed for Manchester United.

“The Public Prosecutor has filed today a complaint against Cristiano Ronaldo and not a claim, which implies a substantial change,” the statement read.

“The Public Prosecutor understands that CR [Ronaldo] is participating in an offshore structure, similar to that of other players, when most of the revenues were obtained directly by the player, without the participation of any of his societies.

“The rest of his revenues were paid to the player and declared in Spain according to the terms that the player’s advisors considered applicable.
“There is no offshore structure for evading taxes. Tollin is 100 per cent owned by Cristiano Ronaldo since its foundation in 2004. It was founded when the player arrived at Manchester United, six years before his signing for Real Madrid, and the net profits were 12.753.685,28 euros.”
Ronaldo denies tax evasion Ronaldo denies tax evasion Reviewed by Nene Sochi-Okereke on Wednesday, 14 June 2017 Rating: 5

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