Christine Lagarde, the managing director of the International Monetary Fund, has rarely been out of the headlines this week – and on Tuesday a storm erupted on the Internet over the news that she pays no tax on her salary. Her salary is $467,940 (£298,675) a year plus $83,760 additional allowance – equivalent to around $630,000 if she were paying U.S. top rate income tax of 35 percent. This is a substantial sum, more than U.S. President Barack Obama or Secretary of State Hilary Clinton brings home in a year. Yet she could earn more if she were still able to juggle prestigious jobs in the private sector.
The storm has the distinct whiff of an imbroglio in the crockery.
Photo: Bloomberg | Getty Images