Wealthy Europeans Lured by Tax Havens Face Surge in Exit Charges
The wealthy are exiting the UK in droves for tax havens such as Monaco, Switzerland and Dubai. But many well-heeled Europeans with similar dreams of escape are finding they can't leave quite so easily.
High-tax nations across the continent are seeking to slow the departure of rich residents by hitting them with a levy on the value of their assets when they depart. Known as exit taxes, the idea is to make them think twice before leaving — or pay their fair share if they do.
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