International pop star Isabel Mebarak Ripoll, known as Shakira, has reached a settlement with Spanish authorities in her tax fraud case just hours before her trial for tax evasion was scheduled to begin on Monday.
The lawsuit alleged that Shakira owed over 14.5 million euros ($15.7 million) in taxes on income earned between 2012 and 2014.
Despite listing the Bahamas as her primary residence during that period, prosecutors argued that she had spent the majority of her time in Spain.
Facing the possibility of more than eight years in prison and fines totaling €24.5 million, Shakira has now agreed to pay a €7.3 million ($8 million) fine with a suspended three-year sentence as part of the settlement.
Shakira, who consistently maintained her innocence, rejected a previous deal offered by prosecutors in July 2022, insisting on proving her innocence in the trial.
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However, in a statement to Variety magazine on Monday, she expressed confidence in winning the case but decided to settle in the best interest of her children.
Her statement read in part. “Throughout my career, I have always strived to do what’s right and set a positive example for others. That often means taking the extra step in business and personal financial decisions to procure the absolute best counsel, including seeking the advice of the world’s preeminent tax authorities such as PricewaterhouseCoopers International Limited, who advised me from the start, and subsequently Ernst & Young Global Limited.
“Unfortunately, and despite these efforts, tax authorities in Spain pursued a case against me as they have against many professional athletes and other high-profile individuals, draining those people’s energy, time, and tranquillity for years at a time.”
“While I was determined to defend my innocence in a trial that my lawyers were confident would have ruled in my favour, I have decided to finally resolve this matter with the best interest of my kids at heart who do not want to see their mom sacrifice her well-being in this fight.”
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Shakira also said she needed to move past “the stress and emotional toll of the last several years” to focus on her kids and career.
Shakira went through a messy breakup with her long-time partner, Gerard Piqué in June 2022. Their split eventually led her to move from Spain to Miami in April 2023 with her two sons, Milan and Sasha.
