Spain's Treasury agrees to $22.3 million deal with Ronaldo over tax fraud

Spain's tax agency on Thursday approved an agreement reached between Cristiano Ronaldo, the Public Prosecutor and State lawyers through which the football star is to pay a fine of almost 19 million euros ($22.3) and be sentenced to two years in prison which would be suspended.

Ronaldo, who will reside in Italy as a Juventus player, will not enter prison in exchange for pleading guilty to four cases of tax fraud, reports Efe.

The agreement reached between tax authorities and the player's lawyers was pending the Treasury's approval as it had been the body that brought charges against Ronaldo.

The Portugal star was charged on four counts of tax fraud between 2011-2014 amounting to 14.8 million euros ($17.3 million).

The amounts allegedly defrauded were 1.39 million euros ($1.62 million) in 2011, 1.66m euros ($1.93 million) in 2012, 3.2m euros ($3.72 million) in 2013 and 8.5m euros ($9.90 million) in 2014.

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

Sources consulted by Efe said that Ronaldo would also carry the legal costs of the cases.

Spain's Treasury and Prosecutor still consider that Ronaldo should be handed down a prison sentence because, even if he does not have to serve time, he would have a criminal record which would act as a deterrent toward re-offending at that time.

--IANS

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