Carlo Ancelotti Convicted for Tax Fraud in Spain
The conviction of Carlo Ancelotti for tax fraud in Spain underscores the country's efforts to crack down on tax evasion and ensure compliance from all individuals, including celebrities and high-profile figures. The case also raises questions about the responsibility of financial advisers and the importance of transparency in tax matters.
Carlo Ancelotti, the current Brazil national team manager, has been convicted by a Spanish court for tax fraud committed during his first stint as Real Madrid manager in 2014, resulting in a one-year sentence and a fine of €386,361.93.
The conviction stems from Ancelotti's alleged hiding of €1,062,079 in income related to image rights, which was routed through foreign companies. He claimed to have followed Real Madrid's guidance and paid the debt in full by December 2021. However, the court found him guilty of tax fraud and handed down the sentence, along with a ban from receiving public subsidies or tax benefits for three years.
This conviction is the latest in a series of high-profile tax cases involving celebrities in Spain, including Neymar, Lionel Messi, and Shakira. Ancelotti, 66, will not serve time in jail due to a Spanish law that typically spares defendants without prior convictions from imprisonment for non-violent crimes under two years. Instead, he will face the fine and other penalties.
The case highlights the importance of tax compliance and transparency, particularly for high-profile individuals and celebrities. Ancelotti's conviction serves as a reminder that tax authorities are vigilant and will pursue cases of tax evasion and fraud, regardless of the individual's status or position.