The Honorary King of Spain, Juan Carlos I, has repaid a debt of over 4 million euros, which businessmen lent him so that he could settle with the tax authorities. Juan Carlos I, who has been living outside Spain for five years, was able to pay this amount thanks to the profits he received in Abu Dhabi, writes UNN with reference to Euronews.
Details
It is reported that part of these revenues comes from the sale of rights to create documentaries about his life. Another part comes from his services as an intermediary in commercial transactions.
Since March 2020, his son, King Philip VI of Spain, deprived Juan Carlos I of financial assistance, the only way to settle tax issues with the treasury was through loans provided by business representatives. In 2021, Juan Carlos I settled with the Spanish tax authorities by transferring 4 million euros.
He voluntarily filed a tax declaration for 8 million euros — for flights on a private airline through the Zagatka fund. These are considered non-cash income and are subject to taxation.
A year earlier, he paid over €678,000 for tax arrears for the period from 2016 to 2018 for "gifts" from a Mexican businessman, which the Spanish authorities classified as "unjustified increase in assets."
Additionally
Juan Carlos I left Spain in August 2020 and has since resided in the UAE. In 2014, he abdicated the throne in favor of his son.