What does it mean if you win a massive amount of money on the lottery in Switzerland?
It’s very likely the first thing you will do before claiming the cash is move house. That’s because depending on your home canton – the tax rate could make a monumental difference.
Tax experts are looking at the example of a Swiss man who won CHF 230m on Friday in the Euromillions.
One expert told the Blick, if the winner is living in Zug, he’ll have to pay CHF 51m in tax – but if in Zurich, it’ll be CHF 92m. Some cantons you could simply have a chat with and see what they offer.
The winner has the right to choose a canton before taking the money. But experts warn its not enough just to rent a small apartment and claim you live there – you have to prove your new canton is now the centre of your life – and trying to avoid tax is not your only reason.
For a CHF 40m tax bill difference – I’m sure the winner will come up with something.
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