Falcao, a Colombian who played for Atletico Madrid from 2011 to 2013 and now plays for Monaco, has been accused of failing to properly declare a total of around 5.6 million euros earned from image rights.
Portugal's Coentrao, who plays for Real Madrid, is accused of failing to correctly declare almost 1.3 million euros, also earnings from image rights.
Real Madrid declined to comment. Neither Atletico nor the two players' agents were available for comment.
(This story has been refiled to rephrase the final paragraph)
(Reporting by Raquel Castillo; Writing by Paul Day; Editing by Larry King)
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