Swiss using tax to woo FTSE 100 companies
UK companies and their staff being tempted over to Switzerland to enjoy a more beneficial tax regime
The UK’s top companies are being wooed by Swiss authorities to relocate to a
more tax-advantageous place.
Swiss cantons are understood to be contacting FTSE 100 companies to persuade
them to move their base and teams, reported
the
Times.
It reported that one chief executive was allegedly offered a flat tax rate of
20% for his personal income to relocate top Geneva.
Grant Thornton’s Mike Warburton said unsolicited offers was a new approach,
but the UK was suffering due to recent tax policy.
“Consequently, places such as Switzerland are licking their lips,” said
Warburton.
Hedge fund managers were also understood to be targeted.
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