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Craig
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PostPosted: Fri Mar 09, 2007 12:09 am    Post subject: Why Rich Foreigners Love Switzerland Reply with quote

These people may pay a VERY low tax RATE. But they still pay $60,000 per year in taxes. How many of you pay that much??? And that doesn't include the other taxes they pay while living there. Socialists may call it unfair. But Switzerland is better off having these people pay a low tax rate then not having them live there......


Why do you suppose so many wealthy foreigners decide to make their homes in Switzerland? Well over 3,500 wealthy foreigners have taken advantage of individual fiscal deals offered by Swiss cantons (provinces), paying an average of CHF75,000 (US$60,000) each in tax on earnings of CHF300 million (US$240 million) annually. The system is called forfait and it is the envy of tax collectors all across Europe, even drawing the ire of the EU, which thinks low taxes are unfair.

Driven in large part by competition among the Swiss cantons, this system enables highly productive people to escape excessive taxation in their own nations.

The crowd of wealthy expats now includes French signing star Johnny Hallyday and U.K. pop star James Blunt as well as Michael Schumacher, the former Formula One race car driving world champion, and Boris Becker from Germany, the Grand Slam tennis champion, as well as rock star Phil Collins and Ingvar Kamprad, founder of the furniture chain Ikea, one of the richest men in the world.

And the low tax competition continued. At least 18 out of Switzerland's 24 cantons planned to cut rates of taxation in 2006, led by Obwalden, which cut corporate tax to 6.6% in January 2006, the lowest rate in Switzerland. Obwalden also cut tax for individuals earning over CHF300,000 (US$240,000)by 1% to 2.35% and reduced property tax.

But the Swiss government has stood firm. EU pressure on Switzerland to change its tax system has been firmly resisted by the Swiss government, with President Micheline Calmy-Rey telling the press whilst still Foreign Minister in December that there is "absolutely no room for negotiation," regarding Swiss tax laws.

We definitely agree with the statement by Jean-Daniel Gerber, head of the Swiss State Secretariat for Economic Affairs, who said:. "It's not a question of justice or injustice; there's no just tax." Amen!

http://baumanblog.sovereignsoc.....oreig.html
Mac





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PostPosted: Fri Mar 09, 2007 12:36 am    Post subject: Reply with quote

Wouldn't it be nice if Canada... naw, never mind... There's too many folks who are "entitled" for us to have a low tax rate...

Interesting article, Craig. Thanks for posting.

-Mac
McGuire





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PostPosted: Fri Mar 09, 2007 3:20 pm    Post subject: Reply with quote

The countries in Europe that are doing well are the ones with the best tax rates: Switzerland, Ireland, most of Eastern Europe. Ths socialist hellholes, like France & Germany, are the ones in deep trouble.
biggie





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PostPosted: Fri Mar 09, 2007 5:13 pm    Post subject: Reply with quote

Hmmmm... time to consider a change of citizenship perhaps :lol:
SFrank85





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PostPosted: Fri Mar 09, 2007 5:52 pm    Post subject: Reply with quote

Just ask Paul Martin! :lol: (Canada Steamship Lines).
biggie





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PostPosted: Fri Mar 09, 2007 6:24 pm    Post subject: Reply with quote

SFrank85 wrote:
Just ask Paul Martin! :lol: (Canada Steamship Lines).


Could probably get a cheap ride, but I'm fresh out of Brown envelopes...

I wonder if a brown paper bag would be an adequate substitute?

:lol:
FF_Canuck





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PostPosted: Fri Mar 09, 2007 8:49 pm    Post subject: Reply with quote

I don't think that citizenship is a requirement of the tax break - if I recall correctly, all male citizens of Switzerland must undertake basic military training, and thereafter remain as part of the militia.
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Why Rich Foreigners Love Switzerland

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