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By Benedicte Gravrand, Opalesque London:
Part two of a four-part series on the possible migration of UK hedge funds to Switzerland. Part One, Are UK taxes a good reason to move south? can be accessed here.
Andrew Turner, partner at the London offices of the international law firm Katten Muchin Rosenman Cornish (Katten) and a tax specialist, gave Opalesque his perspective. In his views, taxes in Switzerland are not worth the effort of moving there.
Dr Stephane Graber, an official representative of Geneva, begged to differ.
Taxes in Switzerland
In a study on income tax rates around the world, issued in April-09, international auditing firm KPMG noticed a counter-trend that took place in 2008, caused by the pressure of a difficult economic environment: there was a general increase in income tax rates.
KPMG argued that this trend was making Switzerland all the more competitive: “Ten [Swiss] cantons have introduced tax cuts since last year... A direct comparison across countries and cantons shows that some of the best European locations for private individuals are in Switzerland. Six cantons have kept their rates under 30% ... Overall, nine cantons are among the top twenty locations in Europe, m...................... To view our full article Click here
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