US EditionSwiss Voters Reject 50% Inheritance Tax on Wealthy
The initiative aimed to fund climate action but was rejected by about 79% of voters, affecting roughly 2,500 taxpayers with wealth above 50 million francs.
- On Nov 30, Swiss voters rejected a proposed 50% tax on inheritances above 50 million Swiss francs, with public broadcaster SRF's first estimate showing 79% against.
- The proposal from the Young Socialists targeted inheritances above the CHF50 million threshold, affecting about 2,500 taxpayers or about 0.03% of the population to fund climate mitigation projects.
- Opponents argued the tax would theoretically boost receipts by 4 billion francs but warned it could prompt wealthy residents to leave, with UBS CEO Sergio Ermotti saying, `I hope it doesn't pass`.
- With turnout at 43, the Swiss government and major political parties opposed the measure, which did not achieve a majority in any canton, easing concerns for Switzerland's wealth hub status.
- Because funds would have gone to climate protection, the vote leaves climate financing questions unresolved despite Switzerland's 300 wealthiest residents holding 850 billion Swiss francs.
121 Articles
121 Articles
The Swiss have clearly rejected an inheritance tax for super-rich people: 78 percent voted against the proposal to tax large assets with 50 percent.
The goal was to finance climate policy with a tax on inheritances and donations: the result was very net
In Switzerland today there were two referendums: one on a general duty of service and one on an inheritance tax for the rich. Both initiatives were rejected by a clear majority.
The young Swiss socialists saw this, but 78% of the voters rejected on Sunday the introduction of an impot on the successions of great fortunes. Not touching the greybi of heritage.
In the referendum on Sunday, Swiss voters sent a clear signal against additional duties and new taxes: 84.2 percent rejected a general civil service and 78.3 percent opposed an inheritance tax for super-rich people.
In two referendums, the Swiss population clearly opposes the introduction of a general civil service as well as an inheritance tax for wealthy people ... The post referendum: Swiss citizens give introduction of an inheritance tax clear rejection appeared first on Apollo News.
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