TaxCorporate TaxZurich woos London hedge funds

Zurich woos London hedge funds

Switzerland plans special 10% tax rate for hedge fund managers

London faces a significant challenge to its status as the leading base for
hedge funds, as Switzerland mulls offering the sector a special 10% tax rate.

The Daily Telegraph
reports that Swiss finance minister
Hans-Rudolf
Merz
has met with Swiss banking leaders to build a plan to
challenge the dominance of the
City of
London.

The Swiss banking federation has proposed a 10% tax on elite hedge fund
managers, effectively cutting the marginal rate by 35 percentage points.

‘It’s an idea I’m trying carrying around,’ said Merz. ‘The financial
marketplace is of enormous importance to our country. I know that we have a
disadvantage in taxes. We understand the problem, and we have to solve it.’

Further reading:

EU goes toe to toe with Swiss over corporate tax system

FSA throws out ‘light’ hedge fund regime

Hedge fund managers under Revenue spotlight

Related Articles

Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

1w Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2w Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

2w Alia Shoaib, Reporter
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

1m Emma Smith, Managing Editor
Should I incorporate my buy-to-let business?

Corporate Tax Should I incorporate my buy-to-let business?

2m Emma Rawson
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

3w Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

3w Clear Books | Sponsored
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

3w Austin Clark, Reporter