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28 February 2024


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UK leader Sunak pays more than $630,000 in taxes in 2023

BI Desk || BusinessInsider

Published: 11:41, 10 February 2024  
UK leader Sunak pays more than $630,000 in taxes in 2023

Photo: Collected

British Prime Minister Rishi Sunak, a former banker, paid more than 500,000 pounds ($630,000) in taxes in 2023, his office revealed on Friday.

The 43-year-old, who has been prime minister since October 2022, had revenues of 2.2 million pounds in the 2022-23 tax year, a 13-percent increase on the previous year, according to documents released by Downing Street, reports BSS/AFP.

About 140,000 pounds was earned as prime minister and a member of parliament. Another 2.1 million pounds came from capital gains, share dividends and interest.

The figures indicate that Sunak paid an overall rate of 23 percent in tax, with capital gains taxed at a lower rate than employment income.

The capital gains come mainly from an investment fund based in the United States.

Sunak, is married to Akshata Murty, daughter of N.R. Narayana Murthy, founder of the Indian tech giant Infosys.

The couple's personal wealth has landed them in controversy and been used by opponents to criticise the prime minister as being out of touch with the concerns of ordinary Britons.

After media revealed that Murty had used a non-domiciled status to pay less tax on money earned outside Britain, Murty said she would declare all revenue earned around the world.

A parliamentary inquiry highlighted how Sunak had failed to disclose interests that his wife had in a child care company, but did not impose sanctions.