Ronaldo faces five years in prison for tax fraud News

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Ronaldo faces five years in prison for tax fraud

By Daily Sports on May 26, 2017

Officials from the Spanish Ministry of Finance (GESTHA) have supported the Tax Agency’s claim that Cristiano Ronaldo failed to pay millions in tax between 2011 and 2013.

Reports broke across Wednesday and Thursday that around 8 to 15 million euros was not declared to authorities with GESTHA believing each of the three years in question could amount to a criminal tax offence as the allegedly defrauded amounts exceed 600,000 euros.

In a statement, officials suggest that a prison sentence of two to six years could be applied to each crime and estimate that a total sentence of five years may be handed down. However, GESTHA also recognise several potential mitigating factors such as Ronaldo recognising the crime and paying back the full amount to incur a reduced prison term of around 15 months, while also calling for his tax advisors to be investigated.

The statement also denounced the so-called Beckham Law that allowed people who signed a contract before 2009, such as Ronaldo, to be taxed at a lower rate although that was allegedly still not satisfied.

*Photo shows Ronaldo.

Source Daily Sports

Posted May 26, 2017