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The King Emeritus will also establish his tax residence in the United Arab Emirates

The king emeritus plans to establish his tax residence in the United Arab Emirates (UAE), a country he moved to in August 2020 and where he established his permanent residence in March 2022, the newspaper reported. ‘the world’.

Juan Carlos de Borbón has already initiated the appropriate administrative procedures so that he does not have to submit a Personal Income Tax (IRPF) declaration this year for 2022, the newspaper reported.

Thus, it informs the Treasury that the “main core or base of its activities or economic interests” is no longer in Spain and will therefore establish its tax residence in the United Arab Emirates. In fact, the King Emeritus no longer meets the requirement of staying in Spanish territory for more than 183 days to be considered a tax resident.

After he settled in Abu Dhabi in August 2020, Don Juan Carlos was only in Spain for a five-day visit at the end of last May. He, who has been monarch for nearly four decades, informed Felipe VI in a letter last March that he had decided to establish his permanent residence in the Gulf state.

After the state attorney general’s office closed the investigation against him, the emeritus informed his son that he had decided to continue his “permanent and stable life in Abu Dhabi” where he “found peace”.

Before that, the former monarch also continued to settle accounts with the Treasury, through two regulations. The first, on December 9, 2020, was €678,000 in connection with the use of bank cards with opaque funds by Mexican businessman Alain Sanguines-Krause, one of three cases investigated against him.

Then, on February 25, 2021, he made a second claim of almost 4.4 million euros for undeclared income in several years, which amounted to more than 8 million euros in travel and services, at the expense of the Zagatka Foundation. His cousin Alvaro de Orléans-Borbon.

We remind you that King Felipe VI stripped Don Juan Carlos of his position as a member of the royal family in March 2020, after it became known that Saudi Arabia had “gifted” him 100 million dollars. The monarch emeritus is currently awaiting trial in London for allegedly harassing his then-girlfriend, Corinna Larsen.

Source: El Diario





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