Tax-Exile Hell

Wednesday, July 25th, 2012

You know, it can be a tough life when you happen to have a lot of money at your disposal. Just ask Mitt Romney. Or nose around a bit in Geneva:


#Economie – Des fortunes de France vivraient l’enfer à Genève: Un reportage sur les exilés fiscaux français clou… http://t.co/9Fgmrp4d
@news_suisse
News Suisse

A little background: The new French Socialist government of François Hollande (dominating both the executive and the legislature) made it clear both pre- and post-election that it intends to substantially raise taxes on the rich. As a result, many of those rich are upping stakes and leaving, often just across the border to more tax-friendly but still francophone climes in Belgium or Switzerland, where they can escape French taxes if they live there for at least 183 days in the year.

Trouble is, it’s not that simple, at least when it comes to Geneva, where for all their money these tax-exiles have to deal with substantial culture-shock. That @news_suisse tweet links to a piece in Geneva’s own Tribune de Genève by Dino Auciello, about how his own venerable hometown is somehow just so uncomfortable and, well, boring for these wealthy wanderers. It’s not difficult to detect Auciello’s thick irony just below the surface, as in his lede:

Poor French fiscal exiles! Those who flee from ever more oppressive fiscal authorities, now the promised land of Geneva reveals itself to them as a veritable hell.

Things are so humdrum there, he reports, that “aside from golf and adultery, distractions are rare.” (more…)

Digg This
Reddit This
Stumble Now!
Buzz This
Vote on DZone
Share on Facebook
Bookmark this on Delicious
Kick It on DotNetKicks.com
Shout it
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

Presidential Divorce?

Thursday, October 11th, 2007

Maybe we can turn this resuscitated weblog into an international scandal-sheet! You heard it here first!

What did you hear? That the marriage between the president of France, Nicolas Sarkozy, and his wife Cécilia is on the rocks. Interestingly, it’s the foreign press, not the French, that is reporting that all that is lacking in the presidential couple’s break-up is the formal announcement. First of all, it was apparently American journalists (which ones or who they write for, however, are not specified) who picked up on remarks Nicolas Sarkozy made on 30 September to Georgian President Saakashvili – they were attending the France-Georgia match of the rugby world cup tournament – to the effect that he could easily see himself as a bachelor again in the near future. And the Nouvel Observateur reports that the Tribune de Genève maintains that the Sarkozys are essentially already separated. For one thing, the Sarkozy’s had been discussing all summer for the benefit of the press their detailed plans of finally moving into the presidential (Elysée) palace come September – yet September has come and gone, and nothing has happened. Then there was the recent state visit to Bulgaria, also noteworthy for Cécilia’s absence – and under normal circumstances she would have been very glad to go to Bulgaria, where authorities wanted to fête her there in grand style in thanks for the very personal role she played earlier this year in securing the release of five Bulgarian nurses, accused of infecting children in their care with AIDS, from their Libyan jail. (more…)

Digg This
Reddit This
Stumble Now!
Buzz This
Vote on DZone
Share on Facebook
Bookmark this on Delicious
Kick It on DotNetKicks.com
Shout it
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)