Revenue Department exceeds Revised Tax Collections target for 2016-17 around 18% taken together in case of Direct and Indirect Taxes
Ronaldo has been accused by the Spanish authorities of defrauding the authorities of around $16.8 million between 2011 and 2014, but on Tuesday denied the allegations, reports Xinhua news agency.
Madrid's state prosecutor has alleged that Ronaldo used a shell company in the Virgin islands to hide his total income from Spain's tax office.
GestiFute, a firm representing several footballers defended on Tuesday that Ronaldo is compliant with his tax payments. Ronaldo has also told journalists he has nothing to hide.
Real Madrid said in a statement it had "full trust" in its player, who they believe has "complied with his fiscal obligations".
The operation is taking place at a European scale, with several tax authorities looking for traces of fiscal fraud in football.
Ronaldo was the highest earning athlete in the world last year, according to Forbes, making around $86.1 million.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)