Discussion paper
DP17967 Behavioral Responses to Special Tax Regimes for the Super-Rich: Insights from Swiss Rich Lists
We collect, digitize, and supplement Swiss rich lists published in the “BILANZ” magazine since 1989. Based on this new dataset, we estimate the sensitivity of the location choice of super-rich foreigners to a preferential tax scheme, under which wealthy foreigners are taxed on their expenses, rather than their true income and wealth. We are the first to evaluate this infamous policy (which bears similarities with “non-dom” taxation in the UK), and show that when some Swiss cantons abolished this practice, their stock of super-rich foreigners dropped by 30% as a consequence. We find no response for the unaffected Swiss super-rich.
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