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A hair transplant clinic co-owned by Cristiano Ronaldo is reportedly under investigation by authorities over tax issues.
Al Nasser, who earns £173m a year along with Portugal star Ronaldo, has diversified his income by investing in multiple business interests throughout his career.
Forbes estimates his net worth in 2023 at $500m (£409m), but according to Spanish sports media, Ronaldo may be in trouble.
The 38-year-old owns several Insparya Medical Clinic hair transplant clinics, but these are being tested by the Spanish tax agency.
The report said a case was opened against the hair transplant clinic after multiple invoices were issued to customers between 2019 and 2021 that did not include VAT.
The business argued that hair loss “is a disease” and therefore “medical services for diagnosis, prevention, treatment and cure” are exempt from VAT.
However, the Spanish Ministry of Finance reportedly claimed that the transplant was “purely for aesthetic purposes” and therefore its price must include VAT, which is currently 21% in Spain.
Tax investigators examined bank statements, cash payments and anonymous payment lists.
The investigation file will be opened in February 2022 and hearings will begin in May 2023.
The clinic has handed over responsibility for the entire process to attorneys but insists they complied with all laws and regulations.
The report claims investigators have sought to highlight how the treatments served “purely aesthetic” purposes.
So they showed up at the company’s offices in Madrid to examine photos taken of clients at different stages of their transplants.
The tax office also asked the company to justify its deductions for various expenses related to hotels, meals and travel, as well as VAT-exclusive invoices.
However, Insparya provided a report from the World Health Organization and the opinions of dermatologists in response.
In this regard, they maintain that hair loss is a disease and transplantation is a necessary “medical treatment”, thus explaining the non-charge of VAT.
The report states: “There is no doubt that the treatment of hair loss diseases improves the aesthetics of most patients who undergo the treatment, but the purpose of such treatment is not only aesthetic but also medical, as in the case of fitting a prosthetic limb to a patient who has lost a limb. .