Switzerland: Taxing times
Switzerland has long been an attractive destination for high net worth individuals keen to minimise their tax liabilities. Dimitri Rotter and Michael Fischer look at the likely impact of new rules governing personal tax in the country
According to the local newspaper Tribune de Geneve, Mohamed al-Fayed moved to Geneva in the spring of 2003 and was granted taxation under a special regime, the so-called lump sum taxation. In August 2004, he moved on and headed for Monaco. Why would he prefer the Mediterranean to Lake Geneva? Had he overlooked something?
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