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Super rich tax payers driven out of Geneva

National News // By Tay Kinnear // Oct. 12, 2018

Geneva is losing its super rich tax payers, and the canton’s tax regime is being blamed.

Pixabay Super rich tax payers driven out of Geneva

According to the Le Temps newspaper, over the past eight years 69 high tax payers - defined as those paying over a million francs a year - have left.

They’ve mainly gone to other cantons or to the UK.

Tax experts say it’s the wealth tax that’s driving them away – as well as the limited opportunity to build homes.

But the numbers do not include those who have struck deals with the canton. Cantons also allow residents pay a fixed annual fee which is not linked to wealth.

 

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