India remains parents' home; love UK too: Akshata Murthy on tax evasion
Infosys founder Narayan Murthy's daughter and UK finance minister Rishi Sunak's wife fashion designer Akshata Murthy has issued a statement clarifying that she will not avail of the non-domicile status and will pay the UK government tax on her foreign earnings. On how things will roll out, Akshata said she will be paying UK tax on an arising basis on all her worldwide income, including dividends and capital gains, whenever in the world that income arises. "These new arrangements will begin immediately and will also be applied to the tax year just finished (21-22)," she said. Rishi Sunak, who has been facing the heat, retweeted his wife's complete statement.
"Since arriving in the UK, I have been made to feel more welcome than I ever could have imagined, in both London and our home in North Yorkshire. This is a wonderful country. In recent days, people have asked questions about my tax arrangements: to be clear, I have paid tax in this country on my UK income and international tax on my international income. This arrangement is entirely legal and how many non-domiciled people are taxed in the UK. But it has become clear that many do not feel it is compatible with my husband’s role as Chancellor," Akshata said.
Talking about their marriage, Akshata said, "Since Rishi entered parliament, he has not involved himself in my business affairs and I have left politics to him. When I met him we were 24 year old business school students, living in another country, and had no idea of where life would take us,"
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"Rishi has always respected the fact that I am Indian and as proud of my country as he is of his. He’s never asked me to abandon my Indian citizenship, ties to India or my business affairs, despite the ways in which such a move would have simplified things for him politically. He knows that my long-standing shareholding in Infosys is not just a financial investment but also testament to my father's work, of which I am incredibly proud," Akshata whose wealth is more than Queen Elizabeth II wrote.
"My decision to pay UK tax on all my worldwide income will not change the fact that India remains the country of my birth, citizenship, parents’ home and place of domicile. But I love the UK too," the statement read.
"In my time here I have invested in British businesses and supported British causes. My daughters are British. They are growing up in in the UK. I am so proud to be here," she added.
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