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Portuguese authority probing alleged tax fraud by Ronaldo

IANS  |  Lisbon 

The Portuguese authority is investigating alleged by clubs and football players, including Portuguese and Real Madrid star Cristiano Ronaldo.

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 office.

GestiFute, a firm representing several footballers defended on Tuesday that Ronaldo is compliant with his 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 authorities looking for traces of fiscal in football.

Ronaldo was the highest earning athlete in the world last year, according to Forbes, making around $86.1 million.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 15:44 IST
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