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by jeofken 314 days ago
The EU forces every member state to implement an exit tax to trap entrepreneurs in a disadvantageous situation (Anti-Tax Avoidance Directive).

Some countries such as Sweden implements this only minimally - making capital gains of Swedish companies you hold realised within 10 years of moving abroad are taxed, so just don’t sell in 10 years but take out credit with those assets as collateral.

Of course outside the EU, such as Switzerland and the UK, these governments are not bound by EU rules and don’t impose exit taxes.

Which is why so many European millionaires are doing their best to live in these countries
2 comments
saubeidl 314 days ago
The reframing of anti tax avoidance to be a "trap", a "disadvantageous situation" is egregious.

Like maybe just pay your dues? Contribute back to the society that enabled you to become rich in the first place instead of parasitically extracting value?

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mytailorisrich 314 days ago
Tax avoidance is legal. Everyone has the right to minimise their taxes lawfully, arguably this is only paying your dues but not more...
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bluecalm 314 days ago
If duties are unreasonably bothersome then it's a trap.
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saubeidl 314 days ago
Who are you to decide what is reasonable and what is unreasonable over the democratically elected lawmakers? This is a deeply anti-democratic attitude.
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bluecalm 314 days ago
Democracy in most EU countries is messed up. People don't get to vote on stuff. There are usually 2-3 major parties that campaign on this or other hot issue. There is nothing that can be done about most issues even if vast majority of citizens support them.

Parliamentary indirect democracy is an illusion. It's just a capture by the political class. Will of the people has very little to do with what is done. I would love to live in actual democracy where we get to vote on stuff and popular policies are implemented while unpopular get struck down. It's even worse than American system where at least you can vote for your representative who has some independence. Here they are just a party official and if they don't vote along the party lines the party will run someone else next time around. Their loyalty is not to the electorate.

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FirmwareBurner 314 days ago
Thank you. Couldn't have said it better myself.
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ExpertAdvisor01 314 days ago
Eu ATAD only do exit tax on corp level. Germany does it on personal level
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