Vanesha Kistoo, Head of Blick Rothenberg's French Desk, stated that the exit tax could drive wealthy expats away, leading to a diminished tax revenue over time.
Kistoo described the proposed exit tax as 'deeply flawed' and fiscally counterproductive, contrary to Labour's goal of filling the financial 'black hole'.
The UK's Foreign Income and Gains (FIG) regime, limiting tax relief to four years, lacks the attractiveness of France's expat tax regime, offering five years of benefits.
Kistoo emphasized that the focus should be on long-term growth and attracting wealthy expats, not on short-term tax measures that could harm FDI.
[
Collection
]
[
|
...
]