The Provincial Prosecutor’s Office of Madrid is requesting four years and nine months of imprisonment for Carlo Ancelotti for defrauding the tax authorities of the amount of 1,062,079 euros in the fiscal years 2014 and 2015.The Real Madrid coach is charged with two offences against the Public Treasury since, despite Ancelotti reaffirming his status as a resident in Spain for tax purposes and indicating that his domicile was in the capital, he concealed the income derived from the exploitation of his image rights which he had assigned to other entities.The accusation alleges that Ancelotti, who was informed of the news while preparing for tonight’s Champions League match against RB Leipzig, signed a work contract as the coach of Real Madrid on 4 July 2013, for the period between 5 July 2013 and 30 June 2016. It specifies that his remuneration for this period, in addition to the work performance, included earnings from the transfer of image rights to the club. Moreover, it states that since July 2013, the accused began to work and reside in Spain, establishing his habitual residence in a property in a central square in Madrid. However, when the coach prematurely ended his relationship with Real Madrid on 25 May 2015, he rented the property until October of that year, so during 2015, “Spain was his main centre of personal relationships and economic interests.”##NAJAVA_MECA_7930309##The Prosecutor’s Office emphasizes that “in order to evade taxation on the earnings from these image rights,” both those received from Real Madrid and other brands for various events, the coach resorted to a “complex” and “confusing” network of trusts and intermediary companies to channel the income from image rights. Ancelotti allegedly “simulated” the transfer of his image rights to entities “lacking real activity” and exploitation capacity domiciled outside of Spain, thus seeking opacity towards the Spanish Tax Agency and concealing the real beneficiary of the income from his image rights, so that neither he nor any of those companies had to pay taxes on the substantial amounts received in Spain or abroad.According to the Prosecutor’s Office, Ancelotti signed a private contract on 1 July 2013, transferring his image rights to the entity Vapia Limited for a period of ten years at a price of 25,000,000 euros. The entity then appointed the Real Madrid coach as its representative, “granting him the maximum powers to manage his image rights.” Later, on an unspecified date, an annexe to the agreement was formalized, modifying the duration of the agreement to three years and reducing the sale price of the image rights to one million euros.🚨🇮🇹 𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆 | Prosecutor’s Office requests almost 5 years in prison for Carlo Ancelotti. This is for ‘defrauding’ €1,000,000, reports @relevo. ‼️ pic.twitter.com/zECJ4DJpTq— EuroFoot (@eurofootcom) March 6, 2024 The Prosecutor’s Office states that Ancelotti timely filed his self-assessment tax returns for the Personal Income Tax, in which he affirmed his status as a resident in Spain, only declaring the personal work remuneration received from Real Madrid. However, he “omitted any income corresponding to the exploitation of his image rights (…), resulting in negative tax returns” with a negative balance of 39,575 euros in the 2014 fiscal year and 529,076 euros in 2015, amounts that were refunded to him by the Tax Agency in both cases.The Prosecutor’s Office specifies that the earnings derived from the transfer of image rights amounted to 1,249,590 euros in 2014 and 2,959,768 euros in 2015, without Ancelotti or the other two entities having paid taxes on these amounts.UEFA CHAMPIONS LEAGUE1/8 finals – second legTuesdayBayern – Lazio 3-0 (2-0)/Kane 38, 66, Muller 45+2/Bayern win 3-1 on aggregate.Real Sociedad – Paris Saint-Germain 1-2 (0-1)/Merino 89 – Mbappe 15, 56/Paris Saint-Germain win 4-1 on aggregate.Wednesday23:00: (1.60) Real Madrid (4.20) RB Leipzig (6.00) /first leg 1-0/23:00: (1.15) Man.City (8.00) Copenhagen (16.0) /first leg 3-1/Tuesday the 12th23:00: (1.77) Barcelona (3.60) Napoli (4.80) /first leg 1-1/23:00: (1.28) Arsenal (5.70) Porto (10.5) /first leg 0-1/Wednesday the 13th23:00: (3.05) Atl.Madrid (3.30) Inter (2.55) /first leg 0-1/23:00: (2.15) Dortmund (3.50) PSV (3.30) / first leg 1-1/***odds are subject to change***
