• About Us
  • Contact Us
  • Privacy Policy
  • Terms
  • Unsubscribe
No Result
View All Result
Live and Invest Overseas
FREE REPORT
BEST PLACES TO RETIRE
*No spam: We will NEVER give your email address to anyone else.
  • HOME
  • COUNTRIES
    • Top Destinations
      • Portugal
      • Panama
      • Belize
      • France
      • Colombia
      • Dominican Republic
      • Thailand
      • Mexico
      • Spain
      • Argentina
    • Browse All Countries
    • Best For
      • Retire Overseas Index
      • Health Care
      • Cost of Living
      • Investing in Real Estate
      • Editor’s Picks For Retirement
      • Establishing Residency
      • Starting an Online Business
      • Single Women
      • Playing Golf
  • BUDGETS
    • Super Cheap ($)
      • Cuenca, Ecuador
      • Chiang Mai, Thailand
      • The Philippines
      • Las Tablas, Panama
      • Granada, Nicaragua
    • Cheap ($$)
      • Algarve, Portugal
      • Medellin, Colombia
      • Boquete, Panama
      • Carcassone, France
      • Buenos Aires, Argentina
    • Affordable ($$$)
      • Abruzzo, Italy
      • Barcelona, Spain
      • Las Terrenas, Dominican Republic
      • Puerto Vallarta, Mexico
      • Costa de Oro, Uruguay
    • Luxury On A Budget ($$$$)
      • Ambergris Caye, Belize
      • Paris, France
      • Panama City Beach Area
  • Real Estate
  • ARCHIVES
    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
    • Offshore Diversification
    • Our Latest On Coronavirus ⚠️
  • Making Money
    • International Real Estate
    • Banking
    • Employment
    • Investing
  • CONFERENCES
  • BOOKSTORE
Live and Invest Overseas
  • HOME
  • COUNTRIES
    • Top Destinations
      • Portugal
      • Panama
      • Belize
      • France
      • Colombia
      • Dominican Republic
      • Thailand
      • Mexico
      • Spain
      • Argentina
    • Browse All Countries
    • Best For
      • Retire Overseas Index
      • Health Care
      • Cost of Living
      • Investing in Real Estate
      • Editor’s Picks For Retirement
      • Establishing Residency
      • Starting an Online Business
      • Single Women
      • Playing Golf
  • BUDGETS
    • Super Cheap ($)
      • Cuenca, Ecuador
      • Chiang Mai, Thailand
      • The Philippines
      • Las Tablas, Panama
      • Granada, Nicaragua
    • Cheap ($$)
      • Algarve, Portugal
      • Medellin, Colombia
      • Boquete, Panama
      • Carcassone, France
      • Buenos Aires, Argentina
    • Affordable ($$$)
      • Abruzzo, Italy
      • Barcelona, Spain
      • Las Terrenas, Dominican Republic
      • Puerto Vallarta, Mexico
      • Costa de Oro, Uruguay
    • Luxury On A Budget ($$$$)
      • Ambergris Caye, Belize
      • Paris, France
      • Panama City Beach Area
  • Real Estate
  • ARCHIVES
    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
    • Offshore Diversification
    • Our Latest On Coronavirus ⚠️
  • Making Money
    • International Real Estate
    • Banking
    • Employment
    • Investing
  • CONFERENCES
  • BOOKSTORE
No Result
View All Result
Live and Invest Overseas
No Result
View All Result
Home news

Schumacher Will Leave Switzerland Over Taxes

Denis Foynes by Denis Foynes
Oct 23, 2012
in news
0
Former Ferrari driver Michael Schumacher

Former Ferrari driver Michael Schumacher waves to fans at the Mugello racetrack during the Ferrari Day event, 28 October 2007. The Ferrari team celebrates the victory in both the Constructors' and Drivers' 2007 championships in the company of Ferrari F1 drivers Kimi Raikkonen and Felipe Massa. AFP PHOTO / ANDREAS SOLARO (Photo credit should read ANDREAS SOLARO/AFP/Getty Images)

207
SHARES
3k
VIEWS
Share on FacebookShare on Twitter

Michael Schumacher, despite having a net worth of €626 million and recently building a mansion valued at 35 million francs, claims he would leave Switzerland if they ended their tax privileges for millionaires.

Politicians and Trade unions in the country are trying to change the present tax law, which allows foreigners to sidestep paying tax on earnings received outside of Switzerland.

There are around 22,000 “tax refugees” around the town of Zug where it is normal for foreign millionaires to negotiate their taxes with authorities. However, on October 19th a left wing group filed a petition with 106,000 signatures demanding the removal of the law.

The F1 star, a resident of Gland in the canton of Vaud, told Der Sonntag newspaper he did not want the law to be changed in Switzerland where he has been a resident for over 20 years. He claims to already pay “lump sum” taxes along with the wages of his Swiss employees.

Schumacher claimed “I can imagine many wealthy foreigners like myself would leave if the tax deal ended.” He warned that if he and his millionaire friends leave ordinary residents will be the ones that have to make up the difference in taxation.

Tags: 'Switzerland''Taxes'Michael SchumachernewsTaxes
Share83Tweet52
Previous Post

Calculating Your Retire Overseas Budget

Next Post

The World’s Top 10 Business Countries

Denis Foynes

Denis Foynes

Denis Foynes was born in New York City to Irish parents in 1991. When he was 8, his family returned to Celtic Tiger Ireland. Denis has an International Politics degree from Aberystwyth University in Wales. After completing university, he decided to leave crisis Ireland and relocate to Panama.

Related Posts

And old yellow school bus on a dirt road in Belize
Lifestyle

Tales From The LIOS Archives—Rome Wasn’t Built In A Day

by Kathleen Peddicord
April 28, 2022
0

All this week, as we celebrate Live And Invest Overseas’ 14th anniversary, we’ve been taking a stroll down memory lane,...

Read more
Giant panorama about Albufeira in Portugal

Our Most Popular FAQs On Moving Abroad: Portugal Edition

April 1, 2022
Swimming pool and the houses in the expat’s community project near Las Tablas in Panama.

The Panama Golden Visa: Residency And A Second Home For The Price Of One

November 8, 2021
Paris, France life in europe

What You Need To Know Before Starting A New Life In Europe

October 29, 2021
Establishing an offshore corporation

The Truth About Establishing An Offshore Corporation

October 26, 2021
Two people walking on a white sand beach in Dominican Republic

The Top 10 Snowbird Destinations

October 3, 2021
Toledo, Spain old town city skyline.

The Top 10 Greatest Advantages Of Living In Europe

September 2, 2021
Next Post
Top 10 Business Countries

The World’s Top 10 Business Countries

Start Your New Life Today, Overseas

A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today.







LIOS Resources


  • New To LIOS
  • Ask An Expert
  • Media Center
  • Contact Us
  • FAQs

Quick Links


  • Best Places To Live
  • Best Places To Retire
  • Finding A Job Overseas
  • Real Estate

Sign up for our free daily e-letter, Overseas Opportunity Letter, and get your FREE report: The 10 Best Places To Retire Overseas In 2022

  • About Us
  • Contact Us
  • Privacy Policy
  • Terms
  • Unsubscribe

© 2008-2021 - Live and Invest Overseas - All Rights Reserved.

No Result
View All Result
  • Home
  • Countries
  • Budgets
  • Archives
  • News
  • Events
  • Bookstore
  • Newsletters
  • About Us
  • Members Area
  • Contact Us

© 2008-2021 - Live and Invest Overseas - All Rights Reserved.

Sign up for FREE and learn how to live the good life on a modest budget, find bargain property, and more. Plus, check out our free report on the 10 BEST PLACES TO RETIRE.

RETIRE OVERSEAS AND LIVE LIKE ROYALTY

The World’s Best Places To Be In 2022?

Discover Them Here…