UK’s non-dom tax changes could be driving out billionaires like Lakshmi Mittal

Steel tycoon Lakshmi Mittal is considering leaving the UK due to the end of tax benefits for non-domiciled residents. This follows the Labour government’s abolition of the 226-year-old non-dom tax regime, potentially prompting other high-net-worth individuals to seek tax-friendly jurisdictions like the UAE, Italy, and Switzerland.

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Author: ET Online