Sport

Cristiano Ronaldo fined €3.2m in tax evasion case

Cristiano Ronaldo fined €3.2m in tax evasion case

Cristiano Ronaldo could pay nearly £17m after settling a tax evasion case with Spanish tax authorities but is unlikely to serve a prison sentence.

Further reports indicate the deal involved Ronaldo avoiding jail if he pleaded guilty to the tax fraud charges.

Prosecutors in Madrid said the deal with tax authorities and Ronaldo's advisors also includes a two-year jail sentence which he won't serve.

Despite his sensational move to the Italian giants, Ronaldo still faced several counts of tax fraud after being accused of evading tax in his years in Spain.

Despite receiving a custodial sentence, the winger will not spend any time behind bars as according to Spanish laws, a custodial sentence under two years can be served on probation, if it is the first offence committed.

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The captain of the Portugal national team officially admitted the four charges of fraud and agreed to the abovementioned settlement, after initially seeing a £12.9m (R220m) offer rejected by the Spanish authorities past year.

He is alleged to have used companies in low-tax foreign jurisdictions, notably the British Virgin Islands and Ireland, to avoid having to pay the tax otherwise due.

His legal team had blamed the affair on a simple different interpretation of which revenue he was obliged to declare in Spain.

The 33-year-old's situation is similar to Barcelona talisman Lionel Messi's two years ago when he was given a 21-month prison sentence for tax fraud.

The prison sentence was later reduced to a further fine of 252,000 euros.


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