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Cristiano Ronaldo Investigated Over £120 Million of Tax

Not a week goes by without a big company or famous celebrity being accused of tax avoidance. This week it is the turn of Real Madrid star Ronaldo.

The richest footballer in the world has been accused by Spanish authorities of not paying £120 million in tax on income he has received in image rights, between the years of 2009 and 2011.

This has led officials in Spain to demand a large scale investigation against the Real Madrid player, and if successful, something tells me that the Spanish government will be getting a big cheque through the post from Mr Ronaldo’s accountant.

However, let’s just be clear here…right now nothing has been proven in a court of law, and as we speak this is all just allegations against Ronaldo. It could very well be that he has done nothing wrong and that this will be easily proven.

It isn’t the first time that a high profile football figure has come under scrutiny from Spanish officials, as last year Jose Mourinho was investigated about alleged tax avoidance while he was manager of Real Madrid.

I don’t think anything ended up coming of that investigation, although it’s difficult to say for sure because the result of these tax investigations very rarely get reported in the press, especially when innocence is proven or a small settlement is reached.

Back to Cristiano Ronaldo and reports are suggesting that Spanish Authorities believe that money was diverted to a shell company in the British Virgin Islands, and that approximately £120 million of tax has been avoided.

When asked about the issue previously, Ronaldo has denied any wrongdoing, even to the point where his agent released tax records for the footballer showing his exact incomings and outgoings.

I’m sure that Ronaldo hires a good accountant and makes sure everything is recorded accurately. Who knows, he might even keep details of all his earnings in a simple notebook? I’m sure it’s a bit more complicated than that, and his accountant no doubt uses the latest accountancy software to keep everything up-to-date.

Let’s wait to see what happens on this one anyway. At the end of the day, the Spanish government are yet to launch any kind of investigation and it might never happen. Of course, Ronaldo might be completely innocent and this could quickly be proven.

I’m sure everything will get sorted out quickly so that Ronaldo can get back to what he does best, playing football and showing the world his skills.

If you are a contractor then you might not have the skills of Ronaldo, and you probably don’t make as much money as him, but you still need an accountant, which you can find right here on this website.

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