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Old 14-03-2009, 19:00
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Default Merz secures British support from Brown

Finance Minister Hans-Rudolf Merz has told British Prime Minister Gordon Brown that there are no grounds for Switzerland to be placed on a G20 list of uncooperative states.

Give me more please...
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Old 16-03-2009, 11:13
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Default Re: Merz secures British support from Brown

Well, d'uh, Gordon is worried about his own little tax evasion scheme in London, Guernsey and the rest...
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Old 23-03-2009, 15:49
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Default Re: Merz secures British support from Brown

The biggest tax haven in Europe is not what you might expect

Quote:
What is the biggest tax haven in Europe? Monaco, perhaps? Andorra or Liechtenstein? No, it's Britain.

Under an obscure piece of British tax legislation, anyone who lives in Britain but was not born there, can choose "non-domiciled" tax status. That means billionaires like Lakshmi Mittal, born in India, or Hans Rausing, born in Sweden, need pay tax only on the small amount of money they bring into the country every year, and not on their worldwide earnings.

In effect, that has made London a tax haven for everyone from Russian oil tycoons to international investment bankers.
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Old 23-03-2009, 16:02
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Default Re: Merz secures British support from Brown

Excellent article Grum! Although for some reason the second page is blank, maybe it's the StC effect

I think that Brown may have made a mistake going after the Swiss, people can say what they like about them but they do have transparency pretty sorted (strange terminology to describe the secrecy laws I know), in that they make it clear what the rules are and expect people to deal with it as opposed to trying to sell them as something they are not.

I'll bet there are a few more skeletons in Darling's closet waiting to make the news.
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Old 23-03-2009, 16:09
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Default Re: Merz secures British support from Brown

Looking back this has been well discussed
The golden rule that saves the super-rich millions | UK news | The Guardian
James Meek on Britian's status as a haven for the ultra-rich | Money | The Guardian

and more recently
Comment: Darling's review of offshore regulation is all smoke and mirrors
Tax fears over 'non-dom' exodus from Britain
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Old 23-03-2009, 16:24
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Default Re: Merz secures British support from Brown

Quote:
Originally Posted by peachy View Post
I think that Brown may have made a mistake going after the Swiss, people can say what they like about them but they do have transparency pretty sorted
Fact of the matter is that the Swiss are too small and isolated to defend themselves.
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Old 25-03-2009, 17:00
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Default Re: Merz secures British support from Brown

Quote:
Originally Posted by peachy View Post
There's another side to that one. A friend recently told me that his Swiss father, who is now retired and living in the UK, cannot afford to pay the 30K p.a. He had the choice of becoming domiciled and now paying tax on his pension or leaving the country. He's apparently lived in the UK for over 30 years, so it wasn't really a choice for him.

It's not hard to imagine a "brain drain" effect for younger, more mobile people for whom 30K is a lot of dosh.
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