London, June 21 (SANA) Buckingham Palace announced that Britain’s King Charles III will publicly disclose his personal tax bill for the first time as monarch, a move aimed at enhancing transparency and public accountability.
According to Reuters, a Buckingham Palace spokesperson stated on Sunday that the disclosure is part of a broader royal household effort to improve public understanding of the monarchy’s financial accountability, noting that the King previously released his tax information while serving as the Prince of Wales and wishes to maintain this practice as sovereign.
The spokesperson explained that while the King is not legally required to pay income tax, capital gains tax, or inheritance tax on assets inherited from the late Queen Elizabeth II, he chooses to voluntarily pay taxes on his private income and personal assets.
King Charles receives private income generated from land, investments, and personal estates, alongside an annual government Sovereign Grant allocated to cover official royal duties, which is estimated at approximately 132 million pounds sterling for the current financial year.
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