November 6, 2022

Yet another scandal from a British Prime Minster. You might think that the Conservative leader would have some influence over such matters, or at the very least, divest himself from companies still doing business in Russia. But - with a tidy sum of £11.5m in annual dividends on the table - you'd be wrong.

Source: The Guardian

The Indian IT services company Infosys from which the prime minister’s wife collects £11.5m in annual dividends is still operating from Moscow eight months after the company said it was pulling out.

The company retains a staffed office and is paying subcontractors in the Russian capital to carry out IT services for a global client although a spokesperson said they were looking to end that arrangement.

Rishi Sunak’s wife, Akshata Murty, is the daughter of the billionaire founder of Infosys, NR Narayana Murthy. She has a 0.91% stake in the company worth £690m that rewards her with multimillion-pound annual dividends.

Murty and Sunak, who entered Downing Street last month, face new pressure to rethink their financial links to Infosys. Earlier this year, Murty agreed to pay tax on her Infosys dividends both in the UK and in India after an outcry over her “non-dom” tax status that had allowed her to avoid liability in Britain.

Back in March, Sunak would say "My wife is not an elected politician... I've nothing to do with that company." Well now you do, buddy. Now you do.

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