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Tax deal for rich may be scrapped

THE tax ystem that has attracted wealthy foreigners including Tina Turner, Phil Collins and Michael Schumacher to live in Switzerland will be put to a vote to see if the people want to scrap it.

An alliance of left-wing parties and trade unions said they had collected the 100,000 signatures needed to put their proposal to a referendum.

Switzerland has attracted more than 5000 wealthy foreigners with tax deals based on the rental value of their property rather than their actual income or wealth, on the condition that they do not work in the country.

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