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Akshata Murty, blind management, Boris Johnson, cabinet coup, China, confidence vote, Conflict of Interest, data centres, Fishy Rishi, Government Contracts, India, Infosys, Infosys contracts, Infosys Shanghai, InfoSys stock, inheritance tax, Manchurian Candidate, Murthy, non-dom, NR Narayana Murthy, Rishi Sunak, Russia, software development, taxation, Theleme, UK, UK Prime Minister candidate, undeclared investments, US green card, US immigration
Rishi Sunak’s wife, Akshata Murty, and brother-in-law, own significant stakes in India’s Infosys. Rishi’s father-in-law, NR Narayana Murthy, founded the company and is Chairman Emeritus. Rishi’s wife remains a citizen of India. Rishi kept a US legal permanent resident (green) card, until at least last year. His wife also claimed non-domiciled status (citizen of India) for taxation purposes. Yet, he wishes to be British Prime Minister.
Where’s the proof that he even gave up his US green card?
How can the wife of a British Prime Minister be a non-citizen, especially with intent to return home?
India doesn’t allow dual citizenship: “Under the rules, people can be granted non-dom status if they live in the UK but intend to return to their home country…. Akshata Murty is a citizen of India, the country of her birth and parents’ home,” her spokeswoman said. “India does not allow its citizens to hold the citizenship of another country simultaneously. So, according to British law, Ms Murty is treated as non-domiciled for UK tax purposes.” See: “Rishi Sunak faces questions over wife Akshata Murty’s non-dom tax status” 7 April 2022, BBC: https://www.bbc.com/news/uk-politics-61017993
Seemingly their intent has been to retire to the US or India. Even though they own a home in high tax California, there are still low tax areas of the United States. So, why are they living in the UK? And, why is he in the British government? And, why does he want to be British Prime Minister, if it’s not his permanent home? Fishy Rishi, indeed!
Why have they failed to report their investments in detail, as discussed below?
There’s apparently an error in the text below, she is a non-domiciled resident, because she can’t be a citizen of India and the UK.
“From non-dom to green card: questions still facing Rishi Sunak” By Rowena Mason Deputy political editor https://www.theguardian.com/profile/rowena-mason Sun 10 Apr 2022 19.13 BST https://www.theguardian.com
[…]
“The “non-dom” status: why will Rishi Sunak’s wife, Akshata Murty, not give it up? https://www.theguardian.com/politics/akshata-murty
Murty has agreed to pay UK tax on her worldwide earnings in future and for the last tax year, but she will continue to be a non-domiciled citizen. This potentially still confers inheritance tax advantages on her overseas wealth. Some critics are also still calling for her to pay UK tax on her worldwide earnings on a backdated basis.
The green card: why did Sunak cling on to a US “permanent resident” card even when UK chancellor?
There has still not been an adequate explanation as to why Sunak kept his US green card for six years while an MP, including 19 months as chancellor. It does not seem that the move gave him tax advantages, but it does suggest he was keeping his options open in terms of a move back to the US in case his political career did not work out.
US lawyers, though, have queried how he would have presented himself to US immigration officials when returning to his Santa Monica apartment in California, questioning whether they would have been misled about his true residence while a British MP. It is also understood that his wife gave up her green card before Sunak became chancellor, so it is not clear why he did not do so earlier.
The “blind” investments: why will Sunak not tell the public what he owns?
Sunak has so far avoided publicly declaring what companies or funds he holds investments in and where these investments are based. His spokesperson would not say what jurisdiction his holding was in, nor when his “blind management arrangement” was set up.
It is not unlikely that he could still have a holding in Theleme, the Cayman Islands-based hedge fund that he co-founded. But the public has no idea, because he is refusing to say.
His wife’s investments: where are they and how much does she own?
Likewise, Sunak has not declared all his wife’s shareholdings on his register of ministerial interests entry. It is public that she owns a shareholding worth an estimated £690m in Infosys, which has UK government contracts. She may own large chunks of other companies as well, but there is no transparency over what she has a stake in….
Conflicts of interest: what involvement has Sunak had in non-dom policy and other changes related to his investments?
The Guardian revealed on Friday that Sunak brought in tax breaks in April to benefit fund managers who are non-doms. In fact, the whole qualifying asset holding companies regime is likely to be used by people who work in his former industry.
And there is no way of knowing whether any of his investments may benefit from the new regime.
Officials in the Treasury working on non-dom policy are said to be dismayed that they did not know of his wife’s tax status…” Excerpts Courtesy of Guardian News & Media Ltd. The Guardian allows excerpts of up to 500 words from an article for personal blogs. See the article in its entirety here: https://www.theguardian.com/politics/2022/apr/10/from-non-dom-to-green-card-questions-still-facing-rishi-sunak
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Prime Minister Boris Johnson just survived yet another confidence vote in the House of Commons, so why is he being replaced?
“Boris Johnson wins late night confidence vote after bruising Commons debate: The Prime Minister is now expected to continue in his role for the next seven weeks” By Richard Wheeler https://www.standard.co.uk/news/uk/boris-johnson-prime-minister-labour-commons-government-b1013170.html
“How did your MP vote on the confidence motion? After rejecting a Labour motion that the Commons had no confidence in Boris Johnson’s government, the Conservatives put forward their own motion to the effect that the House does in fact have confidence in the government. Tory MPs were expected to back the government and carry the motion, and they did. Find out how your MP voted” By Seán Clarke Mon 18 Jul 2022 22.31 BST https://www.theguardian.com/politics/ng-interactive/2022/jul/18/how-did-your-mp-vote-on-the-confidence-motion
Mining Awareness + 