Italian financial newspapers have reported that the timing of Cristiano Ronaldo’s move from Juventus to Manchester United will enable him to save huge amounts on taxes.
The player had one year left on his Juve contract when pushing hard to leave this summer, finally completing the move to Old Trafford on transfer deadline day.
Il Sole 24 Ore, the Italian equivalent of the Financial Times, outlined there are some very good reasons outside the sporting sphere why Ronaldo made his career choices.
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When he first left Real Madrid for Juventus in 2018, he benefited from the Flat Tax introduced by the Gentiloni Government, meaning he only had to pay €100,000 per year on foreign income, such as all of his sponsorship deals.
Incredibly, the only country where he’d get an even better tax break is in the UK thanks to his Res Non-Dom status, as Il Sole 24 Ore claims Ronaldo won’t have to pay any tax at all for seven years on his foreign income.
Res Non-Dom stands for non-domiciled status, someone who lives and works in the United Kingdom, but under British law has his permanent home in another country.
In 2019, he agreed to pay €19m to settle a tax fraud case in Spain.
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