Queen Mary + King Frederik
Relieved! This new law could play into their hands
© Dana Press
The finances of Queen Mary and King Frederik concern Denmark’s citizens and politicians alike. Since the proclamation of the new monarch, a lot has been happening behind the scenes – and a political decision should at least provide relief for the new royal couple.
With the proclamation of King Frederik, 55, and Queen Mary, 52, as the new Danish royal couple, not only the era of Queen Margrethe’s, 83, reign came to an end: all sorts of regulations, financial aspects and organizational things now need to be reorganized. After Mary and Frederik initially had the gift regulations for the royal family revised and some parties demanded more transparency and insight into the couple’s financial transactions, the king and queen should now be able to breathe a sigh of relief. In the coming weeks, the government could make a groundbreaking decision that not only offers Mary and Frederik more financial freedom, but also their successors.
Will Queen Mary and King Frederik be exempt from inheritance tax?
As the “Dana Press” portal reported on March 8, 2024, Queen Mary and King Frederik will be exempt from inheritance tax in the future. As members of the royal family, they are already allowed to waive income tax, do not have to pay VAT on goods and services and are not liable for registration and eco-tax on cars.
The draft law that could exempt Mary and Frederik from inheritance tax is currently “in preparation,” according to Dana Press. The aim is to present the paper to the government in April 2024. According to the Danish Ministry of Taxation, the new law would affect changes to assets that a regent or his or her partner inherits or takes over from his or her predecessor. This means that not only Queen Mary and King Frederik could enjoy financial advantages, but also Prince Christian, 18, when he succeeds his father – including Christian’s future partner and their successors.
“The background is that when the throne changes, a number of historical artifacts and goods that are of great importance for the shared cultural heritage are transferred to the new royal couple,” the website “BT” quotes the justification for the new draft law. This should include buildings or vehicles that the royal couple needs to exercise their regency, as well as goods that are “viewed as crucial to the continued existence of the royal family and the shared cultural heritage.”
Strong criticism for possible relief: “It’s shameless”
However, some buildings and palaces that the royal family uses and lives in would be excluded from the possible new regulation. Some of these properties are state-owned; the king and queen only have the right to use them, as “SE og HØR” reminds us. An exception is Marselisborg Castle in Aarhus, which currently belongs to Queen Margrethe.
It’s shameless. That one of the most privileged families in the country should now be given additional privileges
The “Ekstra Bladet” sharply criticizes the new draft law. The nobility expert Kim Bach employed there is quoted by “Dana Press”: “It is shameless that one of the most privileged families in the country should now be given additional privileges.” And further: “That seems a little outrageous to me. The royal family is very, very short-sighted when it comes to getting by.” Bach justifies his harsh criticism as follows: “Frederik has a duty to look after the royal family. And the worst Achilles’ heel – or one of them – is when people start asking whether the royal family costs too much. It’s Frederik’s “It’s his duty that he doesn’t miss this, and from that point of view it’s a breach of duty. Margrethe wasn’t able to control herself, and Frederik obviously isn’t able to either.”
Source used: Dana Press