Wednesday, February 06, 2013

Swiss Cantons begin to see downside of low tax rates

From Swissinfo:
For years they fought to offer the lowest tax rates but now some cantons in central Switzerland are questioning the wisdom of this rampant tax competition . . .that saw the cantons, particularly in the 2000s, practically fall over themselves to outdo each other on lowering taxes, and the discontent is bubbling to the surface.
It's fairly unusual (though increasingly common) for criticisms of aspects of Switzerland's offshore-ness to surface from within Switzerland. Perpetually rising rents, and so on, cause statements like this:
Reichmuth, a cheese maker by trade, answered his question thus:
“I don’t need six-lane motorways, or managers with extravagant salaries, or foreigners who benefit from favourable tax treatment.”
and
"A poll in the local newspaper Bote der Urschweiz found that for 57 per cent of voters in Schwyz, the population growth generated by the region’s appeal was a “curse”. Four years earlier, 55 per cent had qualified the increase as a “blessing”."
Fascinating stuff. Now read on.

And if you want the latest on tax competition in the United States, try this.



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