PARALIMNI LAWYERS DO NOT BLAME UK NATIONALS FOR EMIGRATING
5:04 amin Cyprus Lawyers, Paralimni Lawyers Lawyer2 Comments Off
Lawyers in Paralimni – Studies – UK Taxes – completed on 10th February 2010.
The UK is well known for high taxes on just about everything you can think of. And now to make things worse the UK government are planning a 50% tax deduction from income earned.
It is no wonder a lot of the countries wealthy individuals are looking to immigrate to tax efficient countries. Switzerland is top of the list for the wealthy UK nationals along with Mauritius.
This is a tragedy for the UK which will see many residents take their savings and invest and live overseas. Then who will foot the Tax bill?
Property firms are waiting for the rush to happen and are listing many more developments in countries that offer beneficial taxation policies.
Cyprus is another favourite for low taxation polices, in fact it is one of the main attractions for foreigners investing commercially and residentially in our country. Along with Cyprus being a major financial centre.
It has been reported that wealthy UK nationals are receiving tax bills of around £100,000 and they feel this is unacceptable.
Developers need to have the right properties available for this market. As soon as the tax amendment is official and it hits Britain with storm, the wealthy UK nationals will definitely boost the luxury property markets.
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PUBLISHED BY A&G KOUZALI LAW OFFICE ON 12TH FEBRUARY 2010.
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