Wealthy Dutch consider flight to tax haven

29th November 2007, Comments 0 comments

29 November 2007, AMSTERDAM – Many wealthy Dutch residents want to move abroad next year for tax reasons. At least 4 percent is considering crossing the border in 2008 and becoming a taxpayer in another country.

29 November 2007

AMSTERDAM – Many wealthy Dutch residents want to move abroad next year for tax reasons. At least 4 percent is considering crossing the border in 2008 and becoming a taxpayer in another country.

This has emerged from a study by Ruigrok NetPanel commissioned by the magazine Miljonair. The study was held in the context of the presentation of the Finance Guide 2008, a new publication by the magazine. The study polled 480 people with an income of at least 2.5 to 3 times the average.

The researchers say that it is primarily the very wealthiest who are considering fleeing to avoid the levelling policy of the cabinet. "At least 9 percent plans to leave the country," says Onno Aerden, editor in chief of Miljonair.

"It is noticeable that the richer the people, the quicker they want to leave." Two thirds of the wealthy (64 percent) expect that the financial policy from Minister Bos and the rest of the cabinet will have "negative effects" on their own position.

The rich say they consider 22 percent of their income a fair tax burden, Aerden adds.

That money should mainly go to better healthcare, says 43 percent, and better education, says 31 percent. "It is remarkable that improving security and infrastructure are not considered important government expenditures by the rich Dutch. It looks as if they trust the functioning of the market."

The study also shows that investing is a major key to financial growth. More than half of the men polled invest, compared to four in ten women. Aerden: "Women invest noticeably ‘safer.' No less than half of them choose fixed interest securities like bonds compared to only a third of men."

But the wealthy also give to charity. Half of the wealthy Dutch residents give 1 to 4 percent of their assets to good causes. 4 percent even donates at least a tenth of their assets. For the rest the rich do expect their fortunes will increase in 2008, despite the cabinet policy.

[Copyright Expatica News + ANP 2007]

Subject: Dutch news

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