Big news…
The headline story on today’s Spanish newspaper El Confidencial involves Cristiano Ronaldo and their claim that the Real Madrid star has been invoicing for most of his advertising revenues through an Irish company.
The company, Multisports & Image Management (MIM) Limited, was incorporated in 2004 and its headquarters are in Dublin.
El Confidencial states that confidential documents reveal that MIM are “authorized [sic] to operate and grant rights to the image, name, words (spoken or written), signature, biographical information, photographs and videos (…) that identify professional footballer Cristiano Ronaldo Dos Santos Aveiro.”
The name of MIM appears on the confidential documents. But, also in 2015, when Ronaldo released his brand of fragrances and cosmetics for men, it is noted in the legal terms on the website that Cristiano Ronaldo and Cristiano Ronaldo Legacy are registered trademarks owned by MIM Limited and licensed to Eden Parfums Limited.
Football Leaks revealed the advertising agreements that have gone through MIM and they include contracts with Nike, Unilever (Clear shampoo), Kentucky Fried Chicken, Konami (Pro Evolution Soccer), Toyota Thailand, Banco Espirito Santo, Jacob & Co. and Mobily.
El Confidencial adds that Ronaldo used this company registered in Dublin to sign agreements with the various advertisers.
According to the report, The Agencia Tributaria (Spanish Tax Agency) have questioned in the past when image rights are charged through a different country of residence and also through a corporation. In the eyes of the Tax Agency, it must be considered income tax.
As Ronaldo is currently residing in Madrid, he would have had to pay a tax rate of 43.5% rather than the 12.5% corporate tax rate in Ireland.
A spokesperson for Ronaldo told the paper: “[Ronaldo] has lived up to his tax obligations since the beginning of his career, as may be confirmed by the tax authorities in Spain, and any of the countries in which he has resided.
“[Ronaldo] has not, and is not involved in any trouble with the tax authorities in any country, and all his activities have been managed according to current legislation.”
Multisports & Image Management Limited were not immediately available for comment when contacted today. This story will be amended pending their response.
