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  1. Wealth
December 8, 2009

Guardian: Swiss wooing bankers with DVD?

By Spear's

The Swiss canton of Uri is more used to holidaymakers flocking to see its stunning Alpine vistas and the statue, in the capital Altdorf, dedicated to national hero William Tell.

The Swiss canton of Uri is more used to holidaymakers flocking to see its stunning Alpine vistas and the statue, in the capital Altdorf, dedicated to national hero William Tell.

But the diminutive state could be readying itself for a different kind of influx next year after it was claimed to be the subject of a DVD, also featuring fellow cantons Geneva and Zurich, that is being circulated in the City. It is claimed the cantons are trying to poach disaffected London bankers who may be looking for a fresh start in a country where bonuses attract less scrutiny – and, crucially, lower levels of tax.

The DVD’s existence could not be verified today, but one could hazard a guess at the contents. While it is likely to highlight opportunities for dog sledding, mountain biking and cable car rides in the environs of Altdorf, even the canton’s official tourism website carries a special section highlighting the “attractive tax conditions”.

The website suggests a Uri-based banker who earns around £180,000, would attract income tax at rate of just 11%. It also flags that tax applied to an individual’s savings is one of the lowest rates in Switzerland at 0.001%.

To read the full story, visit guardian.co.uk

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