Tax haven in Switzerland
Infantino has moved to Zug – and is thus saving a lot on taxes
FIFA President Gianni Infantino
© ANP / Imago Images
Gianni Infantino has moved his residence from the canton of Zurich to the tax-efficient Zug. This is reported by the Swiss “Sonntagszeitung”. At his new place of residence, the Fifa president only has to pay half as much tax as before with his earnings of millions.
Some wealthy people discover savings potential in taxes. So obviously Fifa President Gianni Infantino. Unnoticed by the public, Infantino has moved his residence from Küsnacht in the canton of Zurich to the low-tax Zug, reports the Swiss “Sonntagszeitung”. The newspaper would have documents showing that the president of world football’s governing body transferred his papers in June this year.
His new home is therefore “an anonymous gray block of flats in a quiet apartment building complex with a view of Lake Zug”. Fifa confirmed the new residence on request without commenting further, the “Sonntagszeitung” continues.
In comparison, Gianno Infantino only pays half the taxes here
From Lake Zurich to Lake Zug – both beautiful, both rich, both embedded in a wonderful panorama. And both areas are tax-favourable, at least from a German perspective. Nevertheless, financially it makes a not insignificant difference whether you live in Küsnacht or in Zug.
Apart from the low tax rates, they are also attractive: the old town of Zug and Lake Zug
© imagebroker / Imago Images
In Switzerland, there is tax competition between the cantons and also between the individual municipalities. If you base your residence on the tax rate, you will soon be eyeing Zug. The canton in central Switzerland is one of the cheapest cantons in general – and that in all income brackets. So also in that of the Fifa President.
According to research by the “Tages-Anzeiger”, Infantino recently received an estimated remuneration of four million francs, i.e. four million euros. In Zug he is in good company. As the “Sonntagsblick” reported in spring 2021, more than every eighth Zuger is a millionaire.
If the details of Fifa boss Infantino’s remuneration are correct, according to the “Sonntagszeitung”, the canton of Zug can look forward to 228,000 francs in additional tax revenue. The community will receive another CHF 153,000. Infantino is doing much better on Lake Zug than on Lake Zurich. The newspaper writes that he will save around half of the tax amount he would have had to pay in Küsnacht by moving.
Infantino’s residence had been discussed before
In the course of this research, the Swiss media point out that this is not the first time that Infantino’s place of residence has been an issue. At the beginning of this year it was reported that the Fifa boss had moved to Qatar – the country of the 2022 World Cup. Infantino denied: “My home is Zurich, I pay my taxes in Zurich,” he told “CH Media” in the spring. It is true that he is often on site in the year the World Cup is held. He has a second home there, and some of his family is also in Qatar. “I think organizing a World Cup has to be a top priority, and you can’t just do it remotely,” Infantino said at the time.
DFB game against Spain
Youngsters with charisma: The DFB team has to be careful of these Spanish youngsters
And so the Fifa boss, who has Swiss and Italian citizenship, has a good overview of what is happening in Qatar in these weeks. For example, players wanted to wear a “One Love” armband to criticize human rights violations in Qatar. The association then promptly announced sanctions for wearing these armbands (the star reported).
With Infantino, Lake Zurich has lost a prominent resident, but there are still a few more. You can read here how illustrious the neighborhood is there.
Sources: daily indicator, trade newspaper, View, Watson