Category: Sport

Steven Gerrard sues HSBC for £100m over tax schemes

Rangers manager Steven Gerrard is taking legal action against his wealth manager following a crack down on tax avoidance schemes. The former Liverpool captain is among hundreds of investors who have launched a £100m lawsuit against HSBC’s private banking division, claiming it defrauded them, The Times has reported. Composer Lord… – Continue reading

Spanish Officials Lop 2 Million Euros Off Ronaldo’s Tax Evasion Settlement

In July, the 33-year-old football superstar accepted an 18.8 million euro fine and a suspended two-year prison sentence as he pleaded guilty to tax fraud in a Spanish court. According to the documents seen by El Mundo daily, football ace Cristiano Ronaldo, 33, who had to pay 18.7 million euros… – Continue reading

Tax evasion: Spanish taxmen comb Messi’s accounts again

Lionel Messi’s problems with the Spanish tax authorities are far from being over as the accounts of his foundation come under scrutiny. The tax authorities are investigating whether payments from FC Barcelona to Lionel Messi’s foundation were used to help the player evade taxes, Spanish daily El Mundo reported on… – Continue reading

Cristiano Ronaldo May Be Fined at Least $35.3Mln for Tax Evasion – Reports

A Real Madrid star footballer will have to face a court hearing on December 22, accused of evading taxes from 2011 to 2014. MOSCOW (Sputnik) — Real Madrid football club striker and Portuguese national football team forward Cristiano Ronaldo may be fined 30 million euros ($35.3 million) for tax evasion,… – Continue reading

Neymar Fined $1.2 million Over Tax Case Delays

New Delhi: Star striker Neymar Jr is fined 3.8 million reais ($1.2 million) by a Brazilian court for attempting to “obstruct the continuity” of a tax evasion case. The penalty applies to the Paris Saint-Germain player, his parents and three companies that manage his finances, according to the federal regional… – Continue reading

Football tours operator banned over tax avoidance

Kenneth Moyes, brother of Manchester United’s former manager David Moyes, has been disqualified as director for five years after the Insolvency Service found he withdrew cash from his company to avoid paying tax Moyes was the owner of Glasgow-based Professional Pre Season Tours, which was involved in arranging pre-season tours… – Continue reading

Footballers’ advisers under scrutiny over tax evasion

Madrid (AFP) – Cristiano Ronaldo under suspicion, Radamel Falcao investigated, Lionel Messi sentenced… Spain’s courts have been busy tackling the alleged and real multi-million-euro tax evasion of football’s greatest stars. But while they may be aware of what they are doing, footballers rely on expert go-betweens like big banks to… – Continue reading

Newcastle United and West Ham raided in HMRC tax fraud investigation

Newcastle managing director Lee Charnley released after HMRC investigation Offices at St James’ Park and club training ground raided by tax authorities The offices of Newcastle United and West Ham United were raided on Wednesday morning and Chelsea confirmed they were asked to provide information as part of a wide-ranging… – Continue reading

HMRC to visit football clubs to review ‘image rights’ and other tax compliance

Dedicated technical experts from the UK’s HM Revenue & Customs (HMRC) will visit all English Premier League, Championship and Scottish Premier League clubs over a three year period and review all compliance risks including payments to players, the government has said. The statement was made in Treasury Minutes containing the… – Continue reading

HMRC FAILURE TO GET TOUGH WITH RICH UNDERMINES WHOLE TAX SYSTEM, MPS WARN

HM Revenue and Customs’ failure to get tough with Britain’s richest individuals is undermining confidence in the whole tax system, MPs have warned. In a scathing report, the Commons Public Accounts Committee accused HMRC of creating the impression in its dealings with taxpayers there was “one rule for the rich… – Continue reading

Taxman targets Real and Barca over fraud, says report

Giants Real Madrid and Barcelona are among five La Liga clubs from whom the Spanish taxman is looking to recover €52 million (RM244 million), online newspaper El Confidencial claimed yesterday. Alongside Atletico Madrid, Sevilla and Valencia, the big two are accused of having avoided tax by paying player’s agents directly…. – Continue reading

Film industry tax avoiders face multi-million pound bill

Investors in a financing scheme aimed at helping the UK film industry are being asked to repay “multiple millions of pounds” following a court ruling. HMRC is pursuing investors in the Eclipse scheme, including celebrities, financiers and sports stars, for up to 20 times their original investment. Courts ruled that… – Continue reading

Fourteen football clubs to stand trial before the sports tribunal on tax evasion’s charges

The investigation, dubbed “Offside,” was launched three years ago and conducted by Naples Public Prosecutor’s Office. The alleged offense was criminal association aimed at tax evasion. Now that the sports prosecutor has completed the investigation, the first results are emerging. Fourteen football clubs will stand trial before the sports tribunal… – Continue reading

Barcelona accept to pay 5.5-million-euro fine over tax evasion charges on Neymar transfer

Barcelona on Monday accepted to pay a 5.5-million-euro ($6.2 million) fine over Neymar’s contested 2013 transfer in a deal with prosecutors that sees the club avoid trial on tax evasion charges. “It was better to accept this agreement than continue on with the uncertainty that has dragged on for a… – Continue reading

Javier Mascherano sentenced to jail over tax evasion charges – but is unlikely to serve prison time

The Argentine has been fined €815,000 and handed a year’s sentence for two counts of fiscal crimes committed in 2011 and 2012 Javier Mascherano has been sentenced to a year in prison but is unlikely to ever serve time in jail, after a verdict was reached in his tax evasion… – Continue reading

Lionel Messi’s tax fraud trial conflicts with Copa America

MADRID (AP) – Lionel Messi’s tax fraud trial has been set for May 31-June 3, conflicting with the start of the centennial Copa America in the United States. The Copa America Centenario will kick off June 3, meaning the five-time world player of the year will not have the best… – Continue reading

Bloomberg BNA Provides Insights into 2016 U.S and International Tax Policy

ARLINGTON, Va., Jan. 14, 2016 /PRNewswire-USNewswire/ — Bloomberg BNA today announced the publication of the Daily Tax Report’s 2016 Outlook on tax and accounting policy. Dozens of policy experts, along with current and former members of Congress, congressional staffers and federal agency officials provided insights on the year ahead regarding… – Continue reading

IRS goes after Royce Gracie claiming tax underpayment, fraud totaling $1.15 million

Royce Gracie isn’t scheduled to fight at Bellator 149 until February, but he’s in a serious fight with the IRS over his taxes, including whether he rightfully claimed a tax credit for the poor. Remember the scrawny guy in a gi who smoked the field at UFC 1 and had… – Continue reading

Judge drops charges against Messi relating to tax fraud in charity games

It’s been proved that the Argentina international did not receive money for the matches A Barcelona judge has archived the case against Lionel Messi regarding a claim he committed tax fraud in relation to six charity matches he participated in in 2012 and 2013, concluding that the Argentine international did… – Continue reading

Sean Connery’s Wife Could Face Prison In ‘Operation Goldfinger’ Tax Case

Sean Connery has not played James Bond for years, but is still a public figure prosecutors might like to attack. He was cleared, but Mr. Connery’s wife, Micheline Roquebrune, has been charged with taking part in an alleged plot to defraud the Spanish treasury of millions in taxes. It is… – Continue reading

‘Dr Ageless’, Shane Charter, chasing missing millions in Cayman Islands

EXCLUSIVE The self-styled biochemist known as “Dr Ageless”, Shane Charter, appears to have shrugged off the Essendon supplements scandal and is pursuing a new business venture — chasing more than $11 million hidden in offshore tax havens by notorious conman Peter Foster. Mr Charter has been negotiating for several months… – Continue reading

Motor racing legend Alan Jones linked to serial conman Peter Foster

Australian motor racing legend Alan Jones has become embroiled in the collapse of an online gambling company operated by notorious conman Peter Foster which owes $11.5 million to about 150 investors. The 69-year-old former winner of the Formula One Drivers’ Championship was named in a writ to be lodged in… – Continue reading

German state buys USB said to hold evidence of €600m in tax avoidance

Tax authorities in the German state of North Rhine-Westphalia have purchased a USB stick reported to hold evidence of tax avoidance and illegal deals worth more than €600m (£427m). Investigators are believed to have paid more than €5m for the data, the highest amount handed over for such information, according… – Continue reading

OECD lists the top 10 toughest countries on tax evasion

The Organisation for Economic Cooperation and Development (OECD) is behind the new measures to automatically exchange tax information between nations and manage the differences on how tax issues are dealt with. Top ten countries The contractor management specialist CXC Global has identified the ten countries with the most aggressive approach… – Continue reading

Spain lionel messi royalties switzerland offshore companies tax evasion court case

Spanish prosecutors have dropped all tax fraud charges against FC Barcelona’s Argentinian star Lionel Messi, but will pursue the case against his father. Jorge Horacio Messi and the footballer were accused of defrauding Spain’s tax office by not paying €4m (£2.9m, $4.5m) due in taxes between 2007-09. If convicted, the… – Continue reading

Barcelona’s Javier Mascherano charged with tax fraud in Spain

ESPN FC’s Fernando Palomo previews the upcoming UCL action, highlighting that Barcelona will have to learn to play without Messi. Also Mou faces his old Club, while Bayern may be playing at their best. Barcelona star Javier Mascherano was charged with two counts of defrauding the Spanish tax authorities of… – Continue reading

Xabi Alonso Denies Tax Fraud : Case Follows Mascherano’s €1.5m Back-Payment

Former Real Madrid midfielder Xabi Alonso has denied that he is guilty of defrauding Spain’s tax authorities. The country’s revenue services claim that Alonso – currently with Bayern Munich – defrauded the state by having his image rights paid to companies based in overseas countries. A complaint has been lodged… – Continue reading

Another FC Barcelona Star Could Face Tax Evasion Charges Despite Paying Up

Superstar-laden FC Barcelona might be among the top teams in the Spanish Liga BBVA this season but the team is making news – again – for a more undesirable reason: tax investigations. As Lionel Messi awaits trial on tax evasion charges, another Barcelona star may be joining him. Spanish news… – Continue reading

MotoGP » Emotional Marquez responds to Andorra critics

MotoGP champion Marc Marquez hit hard by criticism of a planned move to Andorra, will continue to pay tax in Spain. MotoGP champion Marc Marquez gave an emotional response to the criticism he has received within Spain over a reported move to Andorra. Speaking during Friday’s preview for the Superprestigio… – Continue reading

FIFA, IOC Face Greater Scrutiny After Swiss Tighten Rules

Corruption Scandals In May, the legal committee of Parliament’s lower house approved a proposal to expand Swiss banks’ scrutiny of accounts and transfers to include international sporting organizations. The legislation comes in the wake of a series of corruption scandals that have tarnished the image of FIFA. Last year senior… – Continue reading

MotoGP: Marc Marquez rumoured to have moved to Andorra for tax reasons

TWICE-WORLD champion in MotoGP Marc Márquez is reported to have moved to Andorra to reduce his taxes. The 21-year-old, who scooped up the top title in his rookie year, 2013, and repeated the performance the following season, is said to be earning around 10 million euros a year – but… – Continue reading

Sol Campbell clashes with Labour MP over mansion tax on his £25million house in Chelsea and Northumberland ‘country pile’

Sol Campbell owns £25m house in London and Northumberland mansion He appeared on BBC2’s Daily Politics to explain mansion tax was unfair Ex-England footballer said proposed levy was a ‘tax on aspiration’ He said Labour should instead pursue companies who had avoided tax But MP Owen Smith said people had… – Continue reading

Switzerland’s wealthy expats braced for vote on tax break

ZURICH (Reuters) – Many of Switzerland’s foreign millionaires will be watching nervously on Sunday as voters decide whether or not to scrap one of the country’s biggest tax perks for expatriates. Switzerland’s system of charging foreign residents with no gainful activity in the country a lump sum based on their… – Continue reading