(MENAFN- The Rio Times) Shakira, the renowned Colombian singer, reached a crucial agreement with Spanish prosecutors, admitting to tax fraud.
She agreed to pay nearly $8 million in fines to avoid imprisonment.
In a hearing in Barcelona, Shakir confirmed her guilt and accepted the penalties, thus preventing a potential jail term.
The penalty imposed is half the total fraud amount attributed to her by the Spanish Tax Agency.
Moreover, the judgment includes a three-year suspended prison sentence after paying an additional $472,000. This decision allows Shakira to avoid the media spotlight and jail time.
In her statement post-hearing, Shakira faced a dilemma: continue a lengthy legal battle, impacting her personal life and career, or settle and move forward.
She opted for the latter, choosing to close this chapter of her life. Initially, Shakira faced accusations of evading taxes between 2012 and 2024.
Despite her defense stating she didn't reside in Spain during these years, the court determined her stay exceeded six months annually, necessitating tax payments in Spain.
Previously, in 2019, Shakira had already paid $18.8 million to the Spanish Tax Agency, covering the disputed taxes and associated interest.
Accepting the charges also meant Shakir avoided a lengthy trial involving numerous witnesses.
Shakira's team emphasized the extensive personal and financial toll of maintaining her innocence over the years.
Now, she has shifted her focus to her career and her family's well-being.
In her words, Shakira values regaining her time over a prolonged legal victory, a sentiment echoed by other public figures in Spain who have faced similar legal battles.
Her decision reflects a desire to prioritize personal peace over ongoing legal strife.
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