UK Exit Trend Grips Billionaires? The Non-Dom Tax Change | All You Need To Know | Lakshmi Mittal
Across the UK, the whispers of an exodus are growing louder. A wave of billionaires, including some of the wealthiest Indians in the world, are considering abandoning Britain – all because of a controversial tax reform. But what exactly is a 'non-dom,' and why is it sending shockwaves through the elite? A 'non-dom' is a status that allows individuals to live in the UK but avoid paying taxes on their foreign income. It's a loophole, legally used by thousands of wealthy people, from billionaires to business tycoons, to shield their global earnings from UK taxes. However, this could soon change.
