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Nissan's Ghosn crisis

Ghosn said to have planned tax move to Switzerland

Impending end to Dutch tax break was likely catalyst, French media reports

Carlos Ghosn's plan to move his tax domicile to Switzerland may have been prompted by the expiration of a Dutch tax break. (Photo by Tsuyoshi Tamehiro)

PARIS -- In what could be a tax avoidance scheme, ousted Renault-Nissan Motor alliance chief Carlos Ghosn reportedly planned to move his tax domicile from the Netherlands to Switzerland.

An alliance-related fund that Ghosn established in Geneva last year may have been intended to give him a pretext to reside there, L'Express reported Wednesday. The French news magazine said the move could have been prompted by the impending expiration of a tax break Ghosn had received in the Netherlands. Renault is apparently looking into the situation.

Ghosn remains in detention in Tokyo since his arrest in November on charges of financial misconduct.

The fund would have had a 30 million euro ($34 million) budget. Paperwork submitted to Swiss authorities listed Ghosn as the chief representative and said the purpose of the fund was to encourage diversity and multicultural management at companies.

Ghosn previously resided in France, but he reportedly moved his tax domicile to the Netherlands in 2012 to avoid a wealth tax. Renault-Nissan BV, the company that coordinates the alliance, is based in Amsterdam.

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