TaxAdministrationSwiss plots to lure UK’s non-doms

Swiss plots to lure UK’s non-doms

Switzerland’s cantons are targeting key groups of high earning non-doms executives in the UK

The Swiss cantons are jostling to attract key groups of high earning
non-domiciled executives to exploit their dissatisfaction with the UK
government’s planned tax crackdown on well-heeled foreigners.

Switzerland’s government this month convened an expert committee to examine
measures to improve the country’s attractiveness as a financial centre with an
agenda featuring tax changes to boost competitiveness, particularly to win back
hedge fund managers from London, the Financial Times (FT) reports.

Pierre Jaquier, head of
Geneva’s economic
promotion office
, told FT his organisation had stepped up marketing
in the UK because of the latest uncertainties.

Jaquier confirmed Geneva, one the most popular areas for rich foreigners and
Switzerland’s heart of private banking, had strengthened its efforts ‘for
specific niches’ such as hedge fund managers.

Further reading:

Non-doms I’d like to see go

Greek shipping heads to flee UK over non-dom tax

Read
story in the Financial Review

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