9th December 2016
Some may love him for his work on and off the pitch, others not so much, but no matter what you think of Christiano Ronaldo, he’s become the latest football legend to come face-to-face with tax authorities if the reports are true.
The Ronaldo story
According to Spanish paper, El Mundo, Ronaldo is currently under investigation for ‘irregularities’ in his tax declarations between 2011 and 2013. In particular, these are in relation to his image rights, which it is claimed went through a company called Tollin Associates in the British Virgin Islands. The result was that taxes on these rights were paid in Ireland at the lowest European rate.
Investigations are on-going, however this is further complicated by the need to determine whether or not this activity took place in 2014 when the Beckham Law was still in place, making it likely that he was operating within the law.
This latest report follows the much publicised trials of other sports stars, including Neymar, Javier Mascherano, Lionel Messi and his father. The simple fact that these high profile football stars – with access to the finances to fund legal counsel – have been caught out in tax evasion practices and subsequently are subject to both fines and criminal charges demonstrates that no one is safe from the law.
The global clampdown on tax evasion will only intensify as more authorities invest time and money in launching investigations against wrong-doers regardless of their wealth, celebrity status or even international reputation. If the rich and powerful are facing investigations, contractors evading tax payments can only expect to be prosecuted to the full extent of the law.
What contractors need to know:
However, as a contractor working across borders, you will have so much on your list already that offloading some of these concerns to an expert partner can be hugely beneficial. By working with an experienced team, you can leave your tax concerns in safe hands and free up your time to do what you do best. Speak to the team today to find out how we can help you.