Madrid’s regional state prosecutor alleged that the player used what it deemed to be a shell company in the Virgin Islands to “create a screen in order to hide his total income from Spain’s tax office.
‘’Ronaldo intentionally did not declare income of €28.4m related to image rights, and declared €11.5m of earnings from 2011-14 when his real income was almost €43m.’’
It was also alleged that Ronaldo falsely reported income as coming from real estate, which it said had greatly reduced his tax rate.
Ronaldo’s agents, GestiFute however disputed the Spanish prosecutors claim in a statement: ’’There is no offshore structure for evading taxes … [Cristiano Ronaldo has never] had a tax problem, contrary to what the Spanish prosecutors insinuate. All contractual modifications … have been made to guarantee that the incomes [Ronaldo derives] fully observe Spanish tax regulations.”
On Forbes latest release of top five richest celebrities, Cristiano Ronaldo sits behind Sean "Diddy" Combs, Beyoncé, JK Rowling and Drake.
Ronaldo topped the previous list of the highest-paid soccer players with the estimated $93 million that he earned last year. The amount also makes him the highest-paid professional athlete worldwide.
Ronaldo makes about $58 million from his salary and bonuses before taxes. His current contract will keep him with Real Madrid through June 2021.
The four-time Ballon d'Or winner later tweet “Sometimes the best answer it’s to be quiet” as caption to an image of himself holding his finger to his lips.
Here are the top 10 richest celebrities in Forbes Magazine’s estimation:
1. Sean "Diddy" Combs - $130 million
2. Beyonce Knowles - $105 million
3. JK Rowling - $95 million
4. Drake - $94 million
5. Cristiano Ronaldo - $93 million
6. The Weeknd - $92 million
7. Howard Stern - $90 million
8. Coldplay - $88 million
9. James Patterson - $87 million
10. LeBron James - $86 million