This interactive map compares income tax rates all over Europe with a focus on key Swiss cantons and shows how income tax rates can be extremely different from one canton to the next.
Former UK Foreign Secretary Boris Johnson recently vowed that if he were to pack his bags and move to Number 10, he would cut business taxes and raise the 40% threshold for income taxes to people earning £80,000 a year as opposed to the current £50,000.
This bold statement has sparked new interest and debate on a topic that naturally occupies a front row seat in any taxpayer’s mind: how much money do I have to pay to the State and how much can I spend for my own personal well-being?
For those looking to move abroad, navigating through income tax rates can be a nightmarish experience, particularly for those looking to move to Switzerland. Depending on where you move to Switzerland, you could find yourself paying less than 8% in one area, and up to 25% in another. In the Swiss Federation, while income tax rates vary greatly from canton to canton, they are still generally lower than those of most European countries.
Perhaps this is one of many reasons why so many international celebrities decide to relocate to Switzerland and become Swiss citizens?
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