Queen Fabiola annuls foundation seen as tax dodge


| Zoom

BRUSSELS (AP) - Belgium's Queen Fabiola won't set up an inheritance foundation that was widely criticized as a dodge to shield some of her fortune from the tax man.

Two weeks after she was rebuked by Prime Minister Elio Di Rupo, the 84-year-old widow of former King Baudouin announced her decision Friday and apologized that it had created `'such negative reactions."

The government had called the queen's plan to create a private fund to deal with her inheritance ethically flawed even if it was strictly legal.

Fabiola, who is childless, insisted that none of the money granted to her by the government _ almost (EURO)1.5 million ($2 million) a year _ would have been used in the new fund, which would only include her private money.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.