US EditionSwiss Voters Reject 50% Inheritance Tax on Wealthy
- On Nov 30, Swiss voters rejected a proposed 50% tax on inherited fortunes of 50 million Swiss francs or more, SRF's first results estimate showed 79% against.
- The Young Socialists proposed the 'For a social climate policy- fairly financed through taxation' initiative to fund climate projects via a 50% inheritance tax on assets over CHF 50 million.
- Around 2,500 taxpayers hold assets above 50 million francs with about 500 billion francs in wealth, and the initiative's backers estimated it would raise 4 billion francs for climate policies.
- The Swiss government and Economiesuisse urged voters to reject the tax, while Peter Spuhler threatened to leave and UBS CEO Sergio Ermotti said, `I hope it doesn't pass`.
- As a global wealth hub, Switzerland faces risks as the Boston Consulting Group forecast warns it could lose its crown this year amid competition from Middle East wealth centers, while critics say the tax may drive away mobile assets.
105 Articles
105 Articles
GENEVA.– Swiss voters strongly rejected two initiatives submitted to a referendum this Sunday: a proposal to extend compulsory national service to women and a proposal to impose a 50% tax on inheritances and donations in excess of 50 million francs (about $62.2 million). Both measures, recommended against by the Government and Parliament, were defeated by wide margins in almost all cantons.
Voters in Switzerland overwhelmingly rejected two initiatives in a referendum on Sunday. One proposed a 50 percent inheritance tax on the super-rich and another to expand compulsory civilian or military service for women. According to foreign media, about 84 percent of voters said no to the “civic duty” proposal, while about 79 percent voted against the inheritance tax initiative, according to initial estimates after polling stations closed at n…
A clear vote: new duties and new duties are hardly accepted. With what arguments the opponents asserted themselves.
Coverage Details
Bias Distribution
- 41% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
