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Switzerland Takes Advantage of British tax Offensive

15 May 2009

Le Temps
This article discusses the possible repercussions of the annual speech by Alistair Darling on the budget and the deficit of £175 billion. In the week that followed his speech announcing an increase from 45 to 50% taxes on annual incomes above 150 000 pounds for 2010, a number of British chief executives expressed their intentions of moving to Switzerland. The tax rate in Switzerland will be half of that in Britain. This advantage does not include the rate of capital gains tax, which is 18% in England, but does not exist in Switzerland. The publishing group Informa has announced its emigration to Switzerland in order to escape the “double taxation” and apparently they will not be the last.
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