UK Prime Minister Paid About $530,000 In Taxes Last Year - Document

MOSCOW (UrduPoint News / Sputnik - 23rd March, 2023) UK Prime Minister Rishi Sunak paid over 432,000 Pounds (about $530,000) in taxes in 2021-2022 fiscal year, his personal tax returns published by the government on Wednesday showed.

Sunak's income for this period amounted to about 329,000 pounds and another 1.6 million pounds were registered as capital gains, in other words, income from selling assets, according to the document.

The prime minister's income tax amounted to 120,000 pounds, and the UK capital gain tax was 325,000 pounds. The tax affairs paper also noted that almost 14,000 pounds were paid in the US, thus, they were deducted, and the total sum of taxes in the UK reached slightly over 432,000 pounds, which is the biggest number over the last three years reported.

Assuming office, Sunak, a former investment banker, vowed to be open about his tax payments partly due to the growing criticism over his net worth. Concerns were raised, among other things, by the wealth of his wife, a daughter of an Indian billionaire, Akshata Murthy.

Sunak's wife reportedly did not renounce her Indian citizenship and, thus, was able to avoid paying taxes on her business income received in other countries as a non-resident of the UK. Besides, media reported that Murthy was able to avoid taxes on annual dividends of around 11.5 million pounds by paying 30,000 pounds to remain a non-resident in the UK.