MADRID, NETRALNEWS.COM – Bad news for Real Madrid as its Portuguese mega star, Cristiano Ronaldo, was accused of embezzling his image rights tax during the 2009-2011 period.
According to Spanish daily, El Confidencial, the Spanish tax office is preparing a lawsuit against Ronaldo before his case expires on June 30.
In the eyes of the tax office, Ronaldo failed to pay his image rights tax worth EUR150 million or around IDR2.175 trillion for two years, 2009 to 2011.
The tax office claimed tax money that should be paid to the state is instead transferred by Ronaldo's representative to the British Virgin Islands through its corporate network in a number of countries.
Ronaldo has denied all accusations. His agency, Gestifute, led by Jorge Mendes, has also released records or tax reports once the allegations of this case appeared to the public. In the note, Ronaldo has revenues stored outside Spain amounting to EUR203 million (IDR2.94 trillion) in 2015.
On the other hand, however, the tax authorities are currently conducting an audit based on the fact that Ronaldo has paid EUR5.6 million in taxes from his image rights outside Spain during the period 2009-2015. That number is only four percent of Ronaldo's overall revenue.
Given that the investigative process of this case has started since 2011, the Spanish tax office is required to immediately file a lawsuit regarding the tax evasion case before the case expires by the end of June. (*)