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Spain

King Juan Carlos pays 4 million euro to Spain’s tax authorities as investigations into his financial affairs continue


P: א (ALEPH) VIA WIKI COMMONS

King Juan Carlos of Spain has paid over 4 million euro to his country’s tax authorities in another attempt to regularize his financial situation.

The money was handed over to Spain’s Tax Agency after Juan Carlos received undeclared income over a number of years. This latest payment covers around 8 million euro of payments in kind and relates to flights taken in private jets which were funded by the Zagatka foundation which is owned by his distant relation, Alvaro de Orleans. The flights took place until 2018 and are regarded by authorities as a payment in kind. Therefore, income tax is due on them.

The move comes several months after Juan Carlos made a similar payment, totalling 678, 393 euros, to the Tax Agency to cover hidden funds paid to him by a Mexican businessman, Allen Sangines-Krause. Under Spanish law, if a taxpayer settles their debts before the authorities notify them of the start of an official investigation then they can avoid accusation of financial offences.

Juan Carlos, who ruled Spain from 1975 until his abdication in 2014, is currently living in Abu Dhabi after deciding to go into self imposed exile in August 2020 as political controversy around his financial affairs escalated.

In March 2020, King Felipe renounced all personal inheritances from his father and cut the allowances paid to Juan Carlos.

About author

Lydia Starbuck is Associate Editor at Royal Central and the main producer and presenter of the Royal Central Podcast and Royal Central Extra. Lydia is also a pen name of June Woolerton, a journalist and writer with over twenty years experience in TV, radio, print and online. June has been a reporter, producer and editor, picking up several awards over the years. She's appeared on outlets including BBC 5 Live, BBC Radio Ulster and BBC Local Radio and has also helped set up a commercial radio station. June is also an accomplished writer with a wide range of material published online and in print. She is the author of two novels, published as e-books. She is also a marriage registrar and ceremony celebrant.