Spanish prosecutors claim the Real Madrid forward knowingly used a business structure including shell corporations to hide his income from image rights income in Spain between 2011 and 2014. As a result he is accused of defrauding Spanish authorities to the tune of £12.95million.
According to ‘The Daily Mail’, Ronaldo took advantage of a well-known tax loophole that allows foreign sportsmen to pay income tax at a rate of 24.75%, rather than the 48% paid by Spanish nationals.
Newly-elected Real Madrid President Florentino Perez has backed the Portuguese star, stating that “we have complete faith that Cristiano has always acted out of good faith because we know what he is like.”
Ronaldo’s future remains unclear, with reports suggesting he is ready to quit the Bernabeu due to a perceived lack of support from the club.
SOURCE: BESOCCER
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