The Sunday Times reports that British Chancellor Rishi Sunak has come under fire for criticizing his wife’s Indian tax payer in Britain.
Rishi Sunak’s wife Akshatha Murthy is the daughter of Infosys founder Narayana Murthy. He owns 0.9 percent of the company. He earned 11. 11.6 million from those shares last year.
Akshata, however, did not pay tax on that income in Britain. Had he paid the tax, Britain would have received about 4. 4.4 million in tax revenue.
Akshata has been given ‘non-dom’ status in Britain. This ‘non-dom’ status means that even if a person lives in Britain and his home country is different, he does not have to pay tax in Britain on his income from abroad.
Many wealthy people living in the UK are said to have taken advantage of this ‘non-dom’ status to be exempt from paying large sums of tax. As such, Akshatha, who claims to be an Indian citizen, has been given ‘non-dom’ status and does not pay tax on income from Infosys in the UK.
Akshata has been given the status of ‘non-dom’ status by law. However, Rishi, her husband and British Chancellor, has been criticized for raising taxes on the Chancellor’s wife, following her decision to raise taxes further, as many British people are struggling to cope with housing costs due to inflation.
Meanwhile, Akshatha has said that income from abroad will no longer be taxed in Britain.