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Tax Havens: Switzerland still offers some of the best asset protection around

Posted December 11, 2007

“Switzerland has repeatedly refused to negotiate with the EU over the issue. The center-right Swiss government rightfully says that corporate taxes are a cantonal issue and are not covered by the trade agreement.” — Bob Baumann

Blogger’s Note: Our friends from Sovereign Society just released the following article reviewing the old tax and privacy haven Switzerland against its European competitors. With the political climate in the United States about to shift back to an old-style socialist, redistributionist and high-tax environment in 2008, we consider it high time for free men (and women) to review asset protection strategies!

by Bob Baumann

Baltimore — (TFN): Relatively low tax rates, respect for financial privacy, and attractive, low business tax laws have earned Switzerland a reputation as a “tax haven.” The attraction of Switzerland as a location for corporations is that it offers low taxes in a country that for centuries has proven itself to be stable politically, conservatively managed, financially sound and highly accomplished in its financial operations.

But Switzerland is not necessarily a tax haven for Swiss residents or domestic companies, although tax rates are much lower than in the surrounding left-leaning socialist EU nations, such as France and Germany. Indeed, those two countries, and the illogical, high tax bureaucrats at the EU headquarters in Brussels, constantly complain that low Swiss corporate taxes are unfair competition. Of course, they would never think of lowering their own taxes in order to compete.

Even with taxes, foreign investors can avoid many Swiss taxes by choosing certain types of investments that escape those taxes. The tax system is strictly “territorial,” meaning that the government does not tax income that is earned outside Switzerland.

Last week a new and authoritative report confirmed Switzerland to be “a tax paradise” for corporations and holding companies registered there. Read on here for the results why Switzerland is still one of your best options for offshore asset protection!

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