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Personal tax breaks used by EU rivals to lure highest earners

Tax competition now focused on footloose high spenders

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EU countries are increasingly creating personal tax exemptions to lure wealthy foreigners, a study has found, while existing Irish reliefs are rarely used.

The Paris-based EU Tax Observatory says Italy, Greece, Cyprus and Portugal have some of the most generous income tax schemes for high net worth individuals or pensioners, gifting them tens of thousands of euros a year. However, many are not widely used.


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