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The plans of a Swiss canton to attract the super-rich by offering them the chance to buy property in exclusive, previously out of bounds locations has sparked a political row and accusations that the country is encouraging apartheid of the rich and poor.
The canton of Obwalden is planning to launch "special living zones" for millionaires in an attempt to boost its tax take by luring the wealthiest residents. Like other cantons in the tax haven, Obwalden finds itself short of revenue because it has been competing with other jurisdictions to see who can offer the lowest rate of tax.
..........Details of Obwalden's plan, published in the Swiss press, suggest selling villas on an exclusive basis to those who pay high taxes or who create work in the area – "a sunny location, with low noise emissions, good amenities … as well as an unrestricted view that cannot be built on".
The homes would be constructed on land not usually accessible to ordinary citizens, leading to accusations that the policy discriminates against less wealthy inhabitants while rewarding the rich.
"These special living zones are nothing less than a form of apartheid," said Moritz Leuenberger.......
.......Obwalden reduced its taxes by a quarter three years ago, bringing corporate tax down to 6.6% and local income tax down to 1.8% in reaction to pressure from its inhabitants – 90% voted in favour of the move in a referendum.
It also introduced a flat tax rate, meaning that a millionaire chief executive pays the same percentage of tax as a toilet attendant.
Originally posted by toraylin
Hasn't it been like this for a long time now. Not that i know really but i'm pretty sure alot of the rich have places there already. Maybey not alot i dunno.
But seriously it's interesting as to it being published. Like i know theyre talking about "special new untouched land" but really whats the difference.
Like all of a sudden there is a big difference between the common folk and the super rich.
The more we change....The more we stay the same.