Buckingham Palace announced on 25/6 that the public disclosure of King Charles III's personal tax is part of the royal family's commitment to transparency, as their finances face increasing public scrutiny.

According to information released in the royal family's annual financial report, the tax paid by the British monarch since his succession in September 2022 has exceeded 30 million GBP (39.6 million USD).

King Charles III in London in April 2024. Photo: AFP

King Charles III in London in April 2024. Photo: AFP

King Charles's eldest son, Prince William, also publicly disclosed his personal tax information for the first time. Since inheriting the title Prince of Wales after his father's ascension, the Prince has paid over 20 million GBP (nearly 26.4 million USD) in tax.

By legal regulations, King Charles is not required to pay income tax, capital gains tax, or inheritance tax on assets he received from his mother, Queen Elizabeth II. However, he voluntarily pays income tax and capital gains tax when selling personally owned assets.

Beyond the 132 million GBP (175 million USD) he receives from the government in the 2025-2026 fiscal year for royal duties, the King also has personal income from land, estates, and investment activities.

"The tax disclosure aims to help the public better understand our accountability", a Buckingham Palace spokesperson said last week.

According to the British royal family, King Charles previously disclosed his tax information when he held the title Prince of Wales and intends to maintain this practice in the coming years as monarch.

Huyen Le (According to AFP, Reuters)