UK's third-biggest taxpayer to leave for Greece
Chris Rokos plans to open an office in Athens, reports say, and was ranked third in the Sunday Times's list of the UK's top taxpayers.
A wealthy British hedge-fund billionaire, Chris Rokos, plans to relocate his business operations to Athens, Greece, according to reports. Rokos, ranked third among Britain's top taxpayers, contributed £330 million in taxes last year and pledged £190 million to Cambridge University in March. Greece offers attractive tax rules for foreign high-earners, allowing them to pay a flat yearly tax of €100,000 (£86,000) on overseas income.
Despite Rokos' generous donation, UK officials acknowledge the significant loss of tax revenue, estimated at £330 million, which could fund 4,500 teachers. However, the government maintains that the UK remains an attractive destination for talent and investment. Chancellor John Healey has prioritized wealth creation and a stable tax system, while Rokos' decision comes before the upcoming UK Budget.
Critics argue that the UK government should provide certainty to wealthy individuals, while supporters believe the government should refrain from further tinkering.
Written by urgent.news from BBC Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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