ROME: Tour de France champion Vincenzo Nibali is reported to have avoided a potential six-month prison sentence after reaching an agreement with Italy’s tax authorities over undeclared income.
The Astana rider failed to declare income totalling €772,000 for 2010 and 2011, which would have incurred a tax liability of €290,000, reports Adnkronos, with around 80 per cent of that figure relating to image rights.
Because the amount of tax evaded was in excess of €50,000, the 30-year-old from Messina was reported for tax evasion, says Adnkronos.
Nibali is reported to have admitted his error and paid a fine of €45,000, enough to satisfy the judge handling the case to close the file without imposing a prison sentence, it adds.
The Sicilian is by no means the first high-profile Italian cyclist to have got into trouble with the tax authorities.
Paolo Bettini and Mario Cipollini have been investigated in the past after transferring their domicile to the tax haven of Monaco, with the Italian authorities claiming they continued to keep their main residence in Italy.
