PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: American Spirit who wrote (248774)	4/17/2002 3:33:27 PM
From: willcousa	Read Replies (1) of 769670

Switzerland only taxes swiss source income. All income earned elsewhere is taxed at a very low rate. This makes Switzerland a tax haven for those who earn their income elsewhere. This is a principle reason that Switzerland is an economic powerhouse with a strong currency The Netherlands and the UK allow companies to HQ there tax free if their sources of income are foreign. Most countries only tax income sourced from within the country. We tax the worldwide income of every company incorporated here. Nestle, a swiss comany, pays US tax only on its' US income. Hershey, a US company, pays US tax on its' worldwide income.

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