Monaco striker Radamel Falcao pays €8.2m in tax case

Monaco forward Radamel Falcao has paid E8.2m ($9.3m US) to tax authorities in Spain as part of an ongoing investigation into alleged tax evasion.

Spanish Tax Authorities are investigating Falcao for tax evasion. They allege he failed to correctly declare 5.6m Euros in income earned from image rights between 2012-2013 while at Atletico Madrid.

If cleared of charges, Falcao will be able to reclaim funds paid, which include tax due plus interest.

Like fellow soccer stars, Messi and Ronaldo, Falcao is alleged to hide income offshore through a maze of shell companies in tax havens: BVI, Ireland, Panama and Colombia. Spain alleges Falcao moved to Monaco to avoid Spanish tax.

The case is ongoing. Falcao has the same agent as Ronaldo, Jorge Mendes, who is alleged to be the mastermind behind these tax evasion strategies. Ronaldo appears before a Spanish Judge on 7/31/17 to respond to similar charges.

Related: Jorge Mendes denies involvement in Radamel Falcao’s tax affairs.

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