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The world’s best tax haven just got better

Posted February 11, 2008

“Now one old-world money haven is putting tax competition into action. And if you own your own business, this one nation could help you slash your company’s tax liability to rates of 0% - 4%.” — Bob Bauman

Editor’s note: Bob Bauman of The Sovereign Society gave some great news to his A-Letter readers this week, and I thought you’d appreciate learning more. You can find the complete article here or read on to learn more.

by Bob Bauman, The Sovereign Society

Baltimore (TFN) — If you’ve been reading our A-Letters for a while, you already know that we often champion tax competition between nations. That’s because tax competition keeps taxes low and government spending lower.

Now one old-world money haven is putting tax competition into action. And if you own your own business, this one nation could help you slash your company’s tax liability to rates of 0% - 4%.

I’m talking about our #1 asset haven: Switzerland.

Some Swiss policymakers have changed the Swiss cantonal tax codes to make Switzerland even more attractive to foreign businesses. (Each of the 26 Swiss cantons or provinces set their own tax rates.)

Along with these extra tax incentives, Switzerland already has the largest number of double tax avoidance treaties with other nations. Under these treaties, Switzerland gives you credit for corporate taxes you pay in another country against the corporate Swiss taxes you owe. So essentially you get a tax break if you’re already paying taxes in another country.

This emerging tax haven trend has attracted a major increase of new companies to Switzerland in the past two years. According to a recent study by an Israeli tax expert, 40,000 new companies were established in Switzerland in 2007. An impressive third of these companies were foreign firms. Many of Switzerland’s 26 cantons have seen the numbers of their registered companies jump by more than 50%.

These numbers increased because Switzerland’s tax code provides opportunities for foreigners seeking ways to reduce their tax bills. Switzerland’s location in Central Europe and its foreigner friendly tax code make this country an ideal location for trading, holding and financial companies. Thousands of multinational companies have their headquarters in Switzerland. Read on to learn how you can find the lowest taxes in Switzerland.

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