Spain's taxman OKs Ronaldo multi million tax settlement

Posted July 28, 2018

Cristiano Ronaldo has received a two-year prison sentence and a fine of almost €19 million after pleading guilty to tax evasion in Spain.

Instead the sentence is served under probation meaning Ronaldo won't be going to prison unless he re-offends during the two-year spell.

Sources close to Ronaldo's camp confirmed to ESPN FC last month the terms of the deal agreed with prosecutors at the tax agency, and on Thursday the sources said that Hacienda chiefs signed off on the deal, which comes at the end of over two years of negotiations between the various parties involved.

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The fact that he is a first time offender also played in his favor in avoiding setting foot in prison.

Procecutors allege the five-time Ballon d'Or victor hid income generated in Spain from his image rights from tax authorities.

According to Spanish publication Marca, Ronaldo has been found guilty of committing four years of tax fraud which reached a total of €14,768,897.

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The final agreement reduces the amount defrauded to 5.7 million euros ($6.6 million), to which fines and interest must be added, totalling nearly 19 million euros ($22 million).

The football star will be required to pay the €3.2-million fine plus the €5.7 million in back taxes, €1 million in accrued interest and €250-per-day for the 48 months covering the prison sentence.

Barcelona's Lionel Messi was handed a 21-month prison sentence in 2017 on similar charges but under Spanish law was able to exchange the penalty for a fine.

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