The palace released detailed information regarding the members of the Spanish royal family’s finances on Wednesday, December 28, 2011.  His Majesty King Juan Carlos I earns $382,597 a year and His Royal Highness Prince Felipe of Asturias earns $191,297. The palace said that of His Majesty’s gross income, just under half was his personal salary and the rest was designated for expenses. The king pays 40% in tax on the total sum.

Her Majesty Queen Sofia and Their Royal Highnesses Princess Cristina, Princess Elena and Princess Letizia receive $483,553. The palace is assigned an annual budget by Parliament which totaled $11 million in 2011.

Source: The Associated Press

Photo courtesy of Casa de Su Majestad el Rey

On December 27, 2011, Their Majesties King Juan Carlos I and Queen Sofia of Spain along with Their Royal Highnesses Prince Felipe and Princess Letizia of Asturias attended the opening of the Tenth Legislature Parliament in Madrid, Spain.

Upon their arrival the royal foursome were received by the prime minister, Mariano Rajoy, and the Chief of State of Defense, Julio Rodríguez Fernández.

Once inside the Spanish Parliament building His Majesty King Juan Carlos I delivered a speech in front of 350 deputies and 264 senators elected by the popular vote in the recent November 20, 2011 elections.

To watch a video as well as to view photos please click the links below:

• VIDEO
• Gallery One
• Gallery Two 

Photo courtesy of Casa de Su Majestad el Rey