Cristiano Ronaldo's agency publishes tax return and reveals annual income amid tax avoidance allegations

The 31-year-old's annual income of £191m breaks down to £523,000 per day, £3.7m per week and £15.9m per month.

Ronaldo's finances were scrutinised by a group of European newspapers last week (Getty)

Cristiano Ronaldo’s agency Gestifute have published a document disclosing the Real Madrid's forward's income for last year in an attempt to stave off accusations of tax avoidance.

The 31-year-old's annual income of £191m breaks down to £523,000 per day, £3.7m per week and £15.9m per month.

Following the recent accusations, which were published by a group of European newspapers last weekend, Gestifute released a photograph of Ronaldo’s ‘Model 720’ tax return, in a bid to prove their client declared the necessary assests and rights to Spanish authorities.

The published document states that Ronaldo declared £19.8m of income from Spain, including his Real Madrid wages. It is claimed that he made the remaining £171million elsewhere.

Ronaldo's 'Model 720' tax return, published by his agency Gestifute (Gestifute)

In a statement, Gestifute said: “Cristiano Ronaldo communicated to the Spanish Tax Agency on 30 March all the information about his assets, as can be shown in the attached documentation.

“This procedure is known as presentation of the model 720, and offers to the Spanish Tax Agency all the data regarding the assets of the player. This document confirms that Spain’s Tax Agency is knowledgeable of all of Cristiano Ronaldo’s assets and income. From now on, the player will not make any further statement on this subject.

“As reported in recent days, the player has been aware of his tax obligations right away from the beginning of his professional career in all of the countries in which he has resided, and has not and has never had any issue with the tax authorities of any of those countries

“This communication, which was not required by law, constitutes irrefutable proof that Cristiano Ronaldo and his representatives are in good faith and cooperate with the authorities in a spirit of transparency and compliance with legality.”

It recently became apparent that Ronaldo had been under investigation for over a year and could face up to six years in jail if found guilty of using offshore tax havens.

When questioned by a reporter for Portugal’s RTP Media outlet on the allegations on Wednesday, Ronaldo replied: “Do you think I’m worried? He who owes nothing fears nothing.”