The dissolution of the Portuguese Football Federation’s partnership with Fernando Santos may be delayed due to the Portuguese company FEMACOSA, which made him guilty of tax evasion.
The Fernando Santos Located near the exit From A citizen of Portugal after being eliminated in the quarter-finals World Cup 2022But if that is the final decision, the bureaucratic process could be delayed as the 68-year-old coach is being investigated for tax evasion.
The former national coach of the Greek national team introduced the company “FEMACOSA, LDA” from the initials of his full name (Fernando Manuel Fernandez da Costa Santos) and this company has its sole client the Portuguese Football Federation. The aim of its establishment was to enter into contracts of cooperation with the federation through it, so that it would be required to pay less taxes than a mere contract as a natural person.
For its part, the federation favored this type of cooperation, so that there would be no complicated discussions in the event of its dissolution, as the salaries of Santos’ collaborators in the national team are also paid through the same company. The federation paid a lump sum fee to “FEMACOSA” and in turn distributed the amount pro rata among… the beneficiaries.
Everything was going well until a few years ago, when the Portuguese tax authorities started investigating the deal and in particular the income declared by Santos in 2016 and 2017. The Portuguese coach had paid contributions amounting to 4,000,000, but he was They are waiting to return. The case was taken to court, which was won by the Portuguese state. As it happened in October in the second degreeas a result of which the Portuguese found himself … lost in the amount of 4,500,000 (including a fine).
Santos had issued a statement confirming that the company was not established due to tax evasion and that he had paid all legal contributions, adding that the company was established since he was working in Greece.
but, Portuguese press reports Last October, they claimed investigations are ongoing for the period 2018-2021 and may have cost Santos $20,000,000.
Tuesday’s news on And she was Regarding the imminent “divorce” of the two sides, it was accompanied by an indication that the reasons related to the agreement of the Portuguese Federation with “FEMACOSA” may delay the dissolution of the cooperation at the official level, perhaps because there is a new investigation pending.
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