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The UK government’s decision to scrap the non-domiciled (non-dom) tax status, which allowed wealthy foreigners to avoid taxes on overseas income, has prompted an exodus of billionaires to countries like Switzerland and the UAE.
This policy shift, aimed at increasing tax revenue, could reduce foreign investment in the UK, impacting sectors like property and finance.
For UK policymakers and residents, the move highlights tensions between fiscal fairness and maintaining the UK’s appeal as a global financial hub.




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