Cristiano Ronaldo denies accusations of tax fraud in Spain

Cristiano Ronaldo denies accusations of tax fraud in Spain

Cristiano Ronaldo denies accusations of tax fraud in Spain

MADRID: Football star Cristiano Ronaldo on Tuesday denied that hidden income tax or commit tax fraud in Spain, after prosecutors have filed a lawsuit that accuses of defrauding the tax authorities of 14.7 million euros (16.5 million euros) millions).

The prosecutor’s office said the Real Madrid striker had knowingly used a trading structure created in 2010 for allegedly hiding his image income rights in Spain between 2011 and 2014.

This involved a “voluntary” violation of tax obligations in Spain, said the press section of the economic crimes office. The four charges of tax fraud charges were based on a report from the Spanish tax agency, it said in a statement.

Ronaldo denied the allegations through his representatives Tuesday.
“There is no tax evasion plan … It has never been concealed or intended to conceal something,” said Gestifute, the agency that represents the player, in a statement.

Gestifute said he would publish documents to prove that the Portuguese player had not created such a structure and it was companies he had belonged to since joining Manchester United that the British and Spanish tax authorities had met instead used.

The agency also said that the case could involve different interpretations between the British and Spanish tax regimes, where they declare income, but in no case constitute a fraud.

Ronaldo, who led Real Madrid to its 12th European Cup earlier this month, is the latest in a long-term league player in Spain, including Lionel Messi and Neymar in Barcelona, ​​to be taken on Whether the tax or transfer.

Between 2005 and 2010, foreign players in Spain are protected by the law called “Beckham” that allows them to slow down their taxes. But as the financial crisis became more serious, this exemption was lifted, opening the way for the event.

The prosecutor alleges that Ronaldo defrauded the tax authorities of 1.4 million euros in 2011, 1.7 million in 2012, 3.2 million euros in 2013 and 8.5 million in 2014.

The prosecutor said that after Ronaldo had signed a contract to sign for Real Madrid in December 2008, he sold his image rights to a company called Tollin Associates Ltd, domiciled in the British Virgin Islands in which he was the only speaker.

Tollin Associates then sold its image rights to a company in Ireland called Multisports & Image Management Ltd, which was responsible for the management. Yes Tollin Associates had no commercial activity, according to the statement.

“Granting image rights (Tollin Associates) was completely unnecessary and their sole objective was to create a screen to hide all their image rights revenues from the Spanish tax authorities,” the statement said.

Prosecutors filed a lawsuit against Ronaldo on Tuesday in a court in the Madrid district of Pozuelo de Alarcón.
Ronaldo ended the football season by scoring two goals in a 4-1 victory over Juventus in the Champions League final to become the top scorer of the tournament with a total of 12 goals.

In May, the Spanish Supreme Court rejected an appeal by Messi and confirmed the prison sentence of 21 months of a Catalan regional court of fraud authorities of 4.1 million euros in image rights. Unlikely to go to jail under Spanish law, sentences of less than two years can be served on parole.

The Spanish Supreme Court has served the Neymar fraud last month but is still facing a corruption trial in Spain as part of the value of its transfer from 2013 Santos to Barcelona. He has denied wrongdoing.

BCCI to determine ‘conflict of interest’ issue

BCCI to determine ‘conflict of interest’ issue

BCCI to determine ‘conflict of interest’ issue

MUMBAI: Letter from captain Rahul Dravid of the former head of the Indian Committee of Directors (CoA) appointed by the Supreme Court, asking whether his role as India’s national youth team coach is in conflict with his master has a franchise of The First Indian League (IPL), has become an issue that can not be swept under the rug.

Of himself a cricket legend whose identity among his fans was synonymous with integrity and hard work Dravid, are those in the cricket halls of India, who finally aroused the awareness that conflicts of interest as subjects should be treated with a purpose Of forward air.

“The question is not whether Rahul could continue as a national coach when she was with the IPL team or vice versa. The question is whether the BCCI was clear in its own thinking processes, even if it struggles to establish basic governance policies.” Cricket player become an administrator told TOI on Monday.

In that sense, thanks to the removal of Dravid himself subject and asking for clarification, a due diligence process is in place soon, and this time with the intention of explaining the basic concepts of what is essentially a conflict what not.

For example, Dravid’s role as the national qu’entrain as IPL franchise mentor is considered a case of conflict with some of the older people who manage the state of affairs in Indian cricket. And in this, there is a process of reflection, which in the
The words of a principal director, works like this:

“A position with the national team, to the extent of their ability, should be considered as” sanctimonious “.

This is a choice, you have to work with the national team and the National Cricket Academy for a year and make a salary or draw the same salary with IPL franchise if you get it and use the rest of the time to devote yourself to Outside interests you may have.

But you can not do both. Do not complicate, just watch how the football circuit. ”

This leads us to a question that has remained unanswered for some time. Can the conflict be determined written term and explained in black and white?

“Perhaps not, but the principles of what constitutes conflict can be determined as a broader pattern. For example, Sourav Ganguly is also hampered by the fact that the head of the BCCI State Association commented.

Until last month, your partner was an owner of the IPL franchise. It is a conflict, “said the administrator.

The Cricket Board of India finally working on a temporary project to regulate the degree of variation that brought the term “conflict” to become one of the most abusive expressions of the country’s sports fraternity.

“There will be a lot of this topic between today and next month.Just have to wait and see.Even a manual will highlight basic principles,” is the other top manager said, confirming that the next general meeting Of BCCI will be a priority.

Many have already been mentioned previously. Except this is the first time someone (ie: Dravid) was actually and asked if he was in conflict or not. In doing so, he put the ball in the BCCI playground and rightly so.
The Guha chart, highlighting the “conflict” of Indian cricket, was not something new in tracking evolution in recent years. There are those who believe in BCCI that the historian has lost patience and unnecessarily jumped the pistol when he should have stayed and made an effort to sort things out, especially if he felt so close to.

However, it can be said with absolute certainty that the letters of Guha and Dravid became the last nails in the coffin to wait a long time to rest.

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Planning to lose weight? Eat vegetables and nuts to shed weight

Planning to lose weight? Eat vegetables and nuts to shed weight

Planning to lose weight? Eat vegetables and nuts to shed weight

“The discovery is important for people trying to lose weight, including those with the syndrome and / or metabolic type of diabetes 2.

It is also relevant to anyone who takes the weight of their management seriously and wants to stay slim and healthy, “said lead author Hana Kahleova.

Do you want to get rid of those extra pounds? Become a vegetarian. According to new research, consumption of vegetables, grains, legumes, fruits and nuts can be almost twice as effective in reducing body weight as conventional low calorie diets.

The vegetarian diet led to a reduction in muscle fat that has improved glucose and lipid metabolism and an average loss of 6.2 kg compared to 3.2 kg for the conventional regimen, the researchers said.

“The discovery is important for people trying to lose weight, including those with the syndrome and / or metabolic type of diabetes 2.

It’s also relevant to those who take their weight management seriously and want to stay lean and healthy, “said lead author Hana Kahleova, the Physicians Committee for Responsible Medicine in Washington DC.

For the small but important study, published in the Journal of the American College of Nutrition, the team randomly assigned 74 people to follow a vegetarian or conventional diet.

Both plans were limited by 500 kilocalories per day compared to an isocaloric intake for each individual. Vegetarians and conventional diets caused a similar reduction in subcutaneous fat under the skin.

The fat subfastique – the fat on the surface of the muscle – has been reduced in response to the vegetarian diet. Intramuscular fat – fat in the muscles – was more strongly reduced by a vegetarian diet.

“This is important because Subfascial fat gain in patients with type 2 diabetes was associated with insulin resistance, while reducing intramuscular fat may help improve muscle strength and mobility, especially in the elderly with diabetes “Said the researchers.

“Vegetarian diets have proven to be most effective for weight loss. However, we have also shown that a vegetarian diet is much more effective in reducing muscle fat, which improves metabolism,” said Kahleova.

Champions Trophy: Fans hope for mouth-watering India vs Pakistan final

Champions Trophy: Fans hope for mouth-watering India vs Pakistan final

Champions Trophy: Fans hope for mouth-watering India vs Pakistan final

Everyone knows that cricket is a game of uncertainties and no one can predict the outcome. Although it is a very remote possibility, cricket teams from India and Pakistan are hoping that South Asian neighbors will compete for the Champions Trophy final in the Sunday oval. Of course, both sides have to overcome serious semi-finals before thinking about this tender dreams.

Before India compare Bangladesh during the last four meetings in Birmingham on Thursday, Pakistan’s fate have already been decided, while he was against England a day earlier – Wednesday in Cardiff.

If Pakistan is able to traverse guests throughout the Asian subcontinent and, of course, the legion of worldwide followers, will aggravate enthusiasm, as you can expect India to get the best of unpredictable Bangladesh.

India
Although they have faced 15 times in ICC-organized events – there was only one moment when India and Pakistan met in the final – at the first T20 World Championships in Johannesburg 2007, when India got the Neck cliff for five shots with Misbah-ul-Haq play the now infamous scoop only to be captured by Sreesanth, to the delight of Indian fans.

Overall, India has won six games against Pakistan in the World Cup, five out of five in the T20 world (including a bowl out after a draw) and two out of four in the Champions Trophy – an overwhelming 13 of 15 games to date. With such an overwhelming track record, Indian fans would prefer that India take on Pakistan instead of England in the title clash.

Overall, India has won six games against Pakistan in the World Cup, five out of five in the T20 world (including a bowl out after a draw) and two out of four in the Champions Trophy – an overwhelming 13 of 15 games to date. With such an overwhelming track record, Indian fans would prefer that India take on Pakistan
Indigenous Indian supporters have already begun to post comments such as: “If Pakistan comes ultimately to the final against India, remember that June 18 is Father’s Day.” Whether or not Pakistan, supporters of India are already preparing for the final on June 18, convinced that their team is strong enough to overcome Bangladesh.

A stronger team English
But they are aware that England is the master in the conditions of the house and should be an extraordinary effort to thwart Indian oval Sunday breakfast.
The English team as Eoin Morgan pattern is very different from what India defeated in the final of the last Champions Trophy in Edgbaston in 2013.

MS Dhoni was then the captain of India and is now one of the smaller boys of Virat Kohli. On the other hand, Morgan was a player and now he is the captain.

As the two captains follow the mantra of the brave and aggressive cricket, most experts predicted that the final Anglo-India, which could materialize to dismay fans in Pakistan and Bangladesh.

Bank Audit Special Regulatory Treatment for Asset Classification

Reserve Bank of India has stipulated special regulatory frame work for asset classification, in modification to guidelines as enumerated in para 6 above. This special treatment will be available to the borrowers engaged in important business activities, subject to compliance with certain conditions as enumerated herein and is not extended to the following categories of advances:

  1. Consumer and personal advances;
  2. Advances classified as capital market exposures;
  • Advances classified as commercial real estate exposures

Thus benefit of special regulatory frame work would be available subject to compliance of conditions stipulated in the paragraph 7.1 below. If these conditions are not complied then guidelines as discussed in para 6 would apply to restructured accounts.

  • Elements of special regulatory framework

The special regulatory treatment has the following two components:

  • Incentive for quick implementation of the

restructuring package.

As an incentive for quick implementation of the package, if the approved package is implemented by the bank as per the following time schedule, the asset classification status may be restored to the position which existed when the reference was made to the CDR Cell or when the restructuring application was received by the bank.

  • Within 120 days from the date of approval under the CDR Mechanism.
  • Within 120 days from the date of receipt of application by the bank in other cases.
  • Retention of the asset classification of the restructured account in the pre­restructuring asset classification category Subject to the compliance with the

undernoted conditions in addition to the adherence to the prudential framework laid down in para 6 above,

  • An existing ‘standard asset’ will not be downgraded to the sub-standard category upon restructuring.
  • During the specified period, the asset classification of the sub-standard/doubtful accounts will not deteriorate upon restructuring, if satisfactory performance is demonstrated during the specified period.

These benefits will be available subject to compliance of the following conditions:

  1. The dues to the bank are ‘fully secured’ by tangible assets except in the following

cases:

  1. SSI borrowers, where the outstanding is up to ?25 lakh.
  2. Infrastructure projects, provided the cash flows generated from these projects are adequate for repayment of the advance, the financing bank(s) have in place an appropriate mechanism to escrow the cash flows, and also have a clear and legal first claim on these cash flows.
  3. The unit becomes viable in 8 years, if it is engaged in infrastructure activities, and in 5 years in the case of other units.
  • The repayment period of the restructured advance including the moratorium, if any, does not exceed 15 years in the case of infrastructure advances and 10 years in the case of other advances. The aforesaid ceiling of 10 years would not be applicable for restructured home loans; in these cases the Board of Directors of the banks should prescribe the maximum period for restructured advance keeping in view the safety and soundness of the advances.
  1. Promoters’ sacrifice and additional funds

Promoter’s personal guarantee should be obtained
in all cases of restructuring. Corporate guarantee
cannot be accepted as a substitute for personal
guarantee. However, the same can be accepted
in cases where promoters of a company are not
individuals.