Does the Pope pay taxes, what's his salary?
What's the story
Cardinal Robert Prevost, the first-ever United States-born pope, took on the title of Pope Leo XIV last week.
According to Fortune, he is expected to receive a monthly salary of $33,000, or roughly $396,000 a year. Government leaders receive a $400,000 basic income, with at least another $170,000 a year in supplementary allowances.
It is still unclear whether Pope Leo XIV will accept a salary.
His predecessor, Francis, refused any sort of salary when he became the Pope in 2013.
Salary details
Pope Leo XIV's salary matches US presidents
However, irrespective of the salary, he will get to enjoy all traditional perks of the position.
The Pope gets to live in the Apostolic Palace, which provides lavish living accommodations with all expenditures covered by the Vatican.
The Pope also receives all his meals and daily essentials for free, as well as unrestricted access to special, hand-tailored regalia created by leading religious outfitters.
He will also be able to access the Popemobile, private cars, and a fleet of vehicles.
Additional benefits
Pope Leo XIV's perks: Free meals and popemobile
Furthermore, the pontiff also no longer has to worry about security, healthcare, or retirement.
He enjoys unfettered access to Vatican medical services and a private pharmacy, ensuring a healthy and lengthy reign.
If Pope Leo XIV chooses to resign, he will continue to be paid a $3,300 (₹2.80 lakh) monthly pension, reported Fortune.
His living arrangements, food and housekeeping will also be taken care of by the Vatican.
Taxes
Will Pope Leo XIV pay taxes
What about taxes? Experts told Fortune that as an American citizen, Pope Leo XIV may be obligated to file a tax return with the US government, just like any other citizen.
Since he is entitled to a monthly income of $33,000, his annual earnings are around $396,000.
Unless an exception is granted, the first American pontiff may face a tax liability of $135,287 based on his pay, which includes both federal and self-employment taxes, according to Washington-based accountant Hector Castaneda.
Tax considerations
Pope may have some alternatives for minimizing the bill
While an exception by the US government is unlikely, Pope Leo XIV could renounce his citizenship if he wants to avoid the tax bill.
Still, Linda Jensen, the CEO of Heart Financial Group, told Fortune that the pope may have some alternatives for minimizing the bill.
Leo may be able to deduct housing costs in addition to the standard $14,600 deduction if he gets an allowance or lives in housing provided by the Vatican, such as the papal apartments.