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Top 12 weirdest tax rules around the world

Countries across the globe have justified deductions, extra percentages, and wacky ways of coming up with tax revenue. Here's a countdown of the 12 strangest tax laws around the world.

9. Switzerland: tax haven heaven

Ruben Sprich/Reuters
Swiss fans wave flags before their Euro 2012 Group G qualifying soccer match against Bulgaria in Basel, Switzerland.

Swiss bank accounts have become synonymous with wildly wealthy business people who are willing to bend the law. Why? Switzerland has some of the laxest tax regulations in the world, as well as some of the most opaque financial secrecy laws on the books. The Tax Justice Network named Switzerland the best tax haven in the world (beating out strong contenders like Bermuda and the Bahamas) due to level of secrecy and scale of banking operations.

In 1934 Switzerland passed a law making it a criminal offense to reveal a client’s identity and, due to this, today Switzerland is estimated to hold 27 percent of the world’s offshore wealth, according to Boston Consultancy Group. Bankers have repeatedly dodged US attempts to get names of their American banking clients, despite being blatantly singled out for their methods (which some say include taking a cut of the offshore money for their efforts).

Overall, analysts estimate over $32 trillion of financial assets are hidden in offshore tax havens, which could make up $280 billion in lost income tax revenues.

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Mark Sappenfield
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