Akshata Murthy, UK Finance Min Rishi Sunak's wife, to pay all taxes on overseas income

Akshata Murthy, daughter of Infosys co-founder Narayana Murthy, said that she will pay United Kingdom taxes on all her income, including from India, so as to not let matter become a distraction for her husband and British Finance Minister Rishi Sunak.

Akshata Murthy has been making helines after it emerged that her non-domiciled status meant that she was not legally bound to pay taxes on foreign income in UK. 42-year-old entrepreneur owns around 0.9% of Infosys shares and receives millions in dividends from IT services major.

"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,'' Murthy said in a statement released on Friday.

"This arrangement is entirely legal and how many non-domiciled people are taxed in UK. But it has become clear that many do not feel it is compatible with my husband's role as Chancellor. I understand and appreciate British sense of fairness and I do not wish my tax status to be a distraction for my husband or to affect my family,'' she furr said.

Will now pay UK tax on arising basis on all my worldwide income: Akshata Murthy

"For this reason, I will no longer be claiming remittance basis for tax. This means that I will now pay UK tax on an arising basis on all my worldwide income, including dividends and capital gains, wherever in world that income arises. I do this because I want to, not because rules require me to. se new arrangements will begin immediately and will also be applied to tax year just finished," she ded.

Akshata Murthy described UK as a wonderful country and said that since arriving in country, she has been me to feel more welcome that she could ever imagine, in both- London and Sunak's constituency home in North Yorkshire. Murthy has been based in Britain for nine years.

Sunak's popularity as a deemed successor of UK Prime Minister Johnson has taken a severe hit in past few weeks, ever since his mini-Budget in March was seen as not doing enough to help struggling families with cost of living crisis and piling on a high tax bill. Chancellor of Exchequer has insisted that he has put in measures for poorest and that his Budget was me with a longer-term view of economy to protect jobs. 

Image: Twitter/@JolyonMaugham