Cristiano Ronaldo Pays Spanish Government £12.1m After Accepting 2-Year Sentence for Tax Fraud
Newly unveiled Juventus star Cristiano Ronaldo has paid the Spanish authorities £12.1m in a tax fraud settlement after accepting a two-year suspended prison sentence.
The Portugal international left Real Madrid to join the Italian champions this summer following a nine-year spell at the Bernabeu. And, according to radio station Cadena Cope (H/T the Daily Mail), he has settled all of his debts and is moving to sever all ties with Spain in the wake of his departure.
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The player has since deposited the aforementioned amount and will pay a further £4.7m in other fines and costs. As for the prison sentence, Ronaldo won't be spending any time in jail as first -time offenders aren't required to serve prison time by the Spanish government for administrative infractions when the sentence is for two years or less.
It has been understood that the forward's anger over Spanish tax authorities taking him to court was one of the main factors behind his decision to leave Madrid.
He is also reported as having put his £4.8m mansion in the affluent 'La Finca' district up for sale and is considering ending all of his business ventures in Madrid.
Ronaldo has always maintained he was innocent since being accused of intentionally defrauding Spain's government by failing to declare image rights earnings between 2011 and 2014.
Moreover, the 33-year-old was enraged over being treated like a criminal, while he felt that his falling afoul was due to misinterpretations of Spain's complicated tax laws regarding image rights.
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Tax laws are more favourable in Italy and a new fiscal bit of legislation allows for contributors moving to the country to pay as little as €100,000 in payments on earnings made elsewhere.
The player will be earning way more at Juventus than he did at Madrid, having signed a four-year deal worth €30m a season, and the friendlier tax decrees should leave him feeling quite relieved.
