Juventus superstar Cristiano Ronaldo has reached an agreement with Spanish Tax Authority to pay around 18.9 million euros, or 24.7 billion won, and a two-year suspended prison sentence, making himself free of tax avoidance allegations.
News media including AP covered Thursday Ronaldo’s agreement with Spanish Tax Authority. It was reported that he admitted relevant charges of tax evasion, promising to pay fines, deferred taxes and interests worth 18.9 million euros. In return, he will be charged with a shorter-than-expected suspended prison sentence of two years.
Under Spanish law, imprisonment of two years or less can be suspended exclusively for first-time offenders. As such, Ronaldo saved himself life in prison. However, he may be behind bars in the event of being convicted of any other tax offence in Spain during the two-year suspension.
Previously, the Spanish Prosecution accused the football superstar of avoiding a total of 14.7 million euros, or 19.2 billion won, in tax payments between 2011 and 2014. Allegedly, he did not report income tax on portrait rights. He had denied all the allegations until a tentative agreement on this issue was reached with the prosecution around the opening of the 2018 Russian World Cup. With the recent agreement with Spanish Tax Authority, he has put an end to tax avoidance allegations.
Reportedly, the issue of his tax avoidance led to his decision to leave Real Madrid in the Spanish Primera Liga for Juventus in the Italian Serie A league.
Jong-Koo Yang email@example.com