Prime Minister Rishi Sunak reveals tax returns; paid over GBP 1 million since 2019

UK Prime Minister Rishi Sunak has revealed his tax returns, showing that he paid over GBP 1 million to the Exchequer since he became a frontline politician in 2019. As reported by PTI, this disclosure is part of Sunak's commitment to transparency, made in November 2022. The UK PM is among the wealthiest British politicians and, on Wednesday, he disclosed that he earned a total of GBP 4.766 million between 2019 and 2022 and paid GBP 1.053 million in tax at a tax rate of around 22 per cent.

As reported by PTI, during his visit to north Wales, Sunak stated, "I published my tax returns in the interests of transparency, as I said I would, and I am glad to have done that." He also added, "I think ultimately what people are interested in is what I am going to do for them." Sunak's financial affairs came under scrutiny during the Conservative Party leadership election campaign last year. He lost to Liz Truss before being elevated to the Prime Minister of the UK.

The controversy was about the non-domicile tax status of his wife, Akshata Murty, who is the daughter of Narayana Murthy, co-founder of Indian IT behemoth Infosys. She has since relinquished her non-domicile status, which meant she paid tax on her Indian earnings in India. Akshata Murty stated that she took the step to avoid this issue becoming a "distraction" for her husband. Sunak was the UK Chancellor of the Exchequer at the time.

The opposition Labour Party has often questioned Sunak's wealth in Parliament, claiming that he has failed to fully empathise with those struggling with a cost-of-living crisis in the country. Labour Deputy Leader Angela Rayner stated, "Tax returns reveal a tax system designed by successive Tory governments in which the prime minister pays a far lower tax rate than working people who face the highest tax burden in 70 years."

(With PTI inputs)