Akshata Murthy Agrees To Pay UK Taxes After Allegations, Here's What Happened

Akshata Murthy to pay UK taxes after her non-dom status raised objections. Akshata Murthy is the daughter of IT Giant Narayana Murthy and the wife of former UK Finance minister Rishi Sunak. Her Non-domicile status exempted her from paying taxes overseas, but after the row, she has agreed to pay the UK taxes.

Akshata Murthy, daughter of Narayana Murthy, founder of Infosys, owns almost a billion dollars worth of shares in Infosys. This information surfaced, according to Infosys' disclosure to the stock exchange. As per reports, Akshata Murthy with her husband Rishi Sunak owns four properties, which include a 7 million pounds worth five-bedroom house in Kensington in London.

She was exempted from paying the overseas tax all these years due to her non-domicile status. A non-domicile status is when a UK resident declares that their permanent home, is outside of the UK, which exempts the individual from paying UK taxes. Following a row on her non-domicile status and the allegations of hypocrisy against her husband Rishi Sunak,  Murthy has agreed to pay taxes in the UK.

The Opposition had written to Sunak, inquiring about his wife, Akshata Murthy's tax arrangements, and accused him of benefitting from her non-domicile status. Liberal Democrats have also referred to the non-dom status as a loophole and had urged Sunak to ban the partners of ministers from claiming a non-dom status. Akshata who is an Indian citizen, holds a non-domicile status, as India doesn't allow citizenship of two countries simultaneously, for tax purposes.

It is estimated that Akshata Murthy owing to her non-dom status has avoided paying around 20 million pounds tax in the UK. She is reported to have received 54.5 million pounds ($71 million) in dividends from Infosys since 2015. Murthy has also stated that while her tax arrangements have been legal "It has become clear that many do not feel it is compatible with my husband's role as chancellor." Following her row on her non-dom status after the news of her paying £30,000 a year to maintain her non-dom status, emerged, Murthy has now complied with paying overseas taxes for her worldwide income.

New Controversy Brewing

Rishi Sunak recently tendered his resignation from the Boris Johnson government. Reportedly, Sunak, who has kept a low profile since his resignation, may become the next Prime Minister now that Johnson, who has resigned as PM. While the UK has plunged deep into the political crisis, people are criticising Akshata for bringing out tea for journalists waiting outside their apartment in expensive mugs. "That woman has clearly never carried a tray before Or made a cup of tea Billionaires don't do anything without a massive ulterior motive. It wasn't cold or raining yesterday," a Twitter user wrote slamming her.

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