Major trading house and one of the world's largest oil traders, Vitol, is threatening to move its headquarters out of Geneva after Switzerland has announced increased tax laws that will impact, among others, the trading houses.
"We could - and we wouldn't be the only ones - move the domicile of our assets elsewhere," says Vitol CEO David Fransen in an interview with Swiss weekly magazine L'Hebdo, according to news angency Reuters.
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