The appeal of the Alps…
According to recent press reports the Swiss authorities are approaching Chief Executives of UK based companies and other wealthy individuals to try to persuade them to relocate. It appears that officials governing cantons such as Geneva are contacting heads of the top companies in the UK to persuade them to relocate their companies and families to regions where they will receive a more favourable tax regime as well as ‘financial privacy’. The rates offered can be as low as 10%.
This seems to be the latest attempt by Swiss authorities to capitalise on the general financial crisis and increasing tax regime for high earners in Britain.
Cathy Corns is a tax adviser and a partner at Mercer & Hole. The views given in this blog are personal to the author, if you would like to discuss the contents of this blog with Cathy you can call her on 01908 605552.
Date: 6th November, 2009
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