Report: Switzerland tenth most tax-attractive nation
Caroline Bishop · 5 Aug 2014, 10:51
Published: 05 Aug 2014 10:51 GMT+02:00
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Despite its reputation for attractive tax rates, Switzerland is beaten in the 2014 report by nine other jurisdictions, including Bulgaria, Guernsey and Andorra.
Bradley Hackford, which helps wealthy clients deal with immigration and changing tax residency status, publishes the report to highlight the main countries “where it is interesting to establish a physical and tax residence” as they “impose neutral or low tax rates on individuals.”
The report rankings are based on five criteria, including tax burden on individuals, quality of life, the country’s legal and physical security, quality of the country’s economic investment programmes, and its geographical location.
The Bahamas, where there is no personal income tax, topped the report with a satisfaction rate of 95 percent, closely followed by the principalities of Andorra (90 percent) and Monaco (85 percent).
Bulgaria, considered the most tax-attractive country of the 28 European Union member states, came fourth at 80 percent satisfaction. The country imposes a 10 percent flat rate tax on individuals.
Completing the top five was Panama, at 75 percent.
At 55 percent, Switzerland took 10th place behind Mauritius (6th), Dubai (7th), the channel island of Guernsey (8th), and the Cayman Islands (9th).