Neymar fined $1.5 million by Brazil court for tax evasion
According to reports, the fine brings the amount Neymar would have to repay to Brazilian officials to $ 62 million.Updated: Oct 20, 2017 18:53 IST
He may be quick on the ball and one of the finest strikers in modern football, but Neymar has been fined over a million dollars for his attempts to delay a tax evasion case. According to reports quoting judicial sources, Neymar has been booked for using legal manoeuvres to avoid paying taxes.
The parents of the PSG and Brazil international as well as three companies that administer the player’s portfolio have all been fined, says ESPN.
An appeals court in Brazil has fined Neymar $ 1.19 million, approximately two per cent of the value that Brazilian tax officials intend to get from the superstar for tax evasion and fines.
According to the Tax Office, the striker created several companies so as to receive part of his salaries and his image rights, with the aim of not paying personal tax (27.5 percent) which is superior to corporate entities, which can vary from 15 to 25 percent, reports ESPN.
Magistrate Carlos Muta considered in his ruling that Neymar’s conduct in the process “characterises litigation of bad faith and a detrimental act to the dignity of Justice” because of the clear intention of the capacity of his defense to extend the case. The magistrate considers that the former Barcelona and Santos player only wants to “obstruct the continuity of the process.”
The tax evasion case has not affected Neymar’s form. Both Neymar and Mbappe were on target as Paris Saint-Germain underlined their dominance of Champions League Group B on Wednesday with a 4-0 rout of Anderlecht.
First Published: Oct 20, 2017 13:14 IST