Geneva continues to leak super-rich taxpayers

Over the past eight years, canton Geneva lost a steady stream of wealthy residents – those who pay over CHF1 million ($1 million) a year in tax - who moved to more tax-friendly locations like Britain and other Swiss cantons, according to a news report.  The French-speaking Le Temps newspaper said on Thursday that between 2010-2018, Geneva had suffered a net loss of 35 of its 300 biggest taxpayers, or 11%, who had left the canton mainly to Britain and other Swiss cantons.  During the same period, a total of 69 major tax contributors left Geneva, mainly to Britain (20), to other Swiss cantons (17), and to the United States (12). Over the same period, 34 settled in Geneva, mainly from Britain (16), other Swiss cantons (6), France (5) and the US (4). The newspaper said it had received the tax information via the Department of Finance and Human Resources.  To explain the hemorrhaging of wealthy taxpayers, Le Temps cited several lawyers who blamed Geneva’s current tax regime, in ...

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