Switzerland to Hold Referendum on 50% Inheritance Tax for Ultra-Rich July 2, 2025 Bern, Switzerland Switze

📰 Switzerland to Hold Referendum on 50% Inheritance Tax for Ultra-Rich
🗓️ July 2, 2025
📍Bern, Switzerland

📄 Switzerland will vote in November on a radical proposal to impose a 50% inheritance tax on ultra-wealthy individuals, according to Bloomberg reports released on July 2. The nationwide referendum, set for November 30, will determine whether fortunes exceeding 50 million Swiss francs should be taxed at half the amount beyond that threshold.

The proposal, introduced by the Young Socialists (JUSO), gained the required momentum after collecting over 100,000 signatures, meeting the legal threshold to trigger a referendum under Switzerland’s “popular initiative” system.

The group argues that taxing the inheritance of the super-rich will provide vital public funding, especially to tackle climate change-related challenges.

Under the plan, the first 50 million CHF of any inheritance remains untouched, but 50% of the excess would be collected by the federal government. If approved, the measure could significantly alter Switzerland’s appeal to global elites—many of whom have recently relocated there amid increased wealth taxation in countries like the UK and Norway.

The Swiss Federal Council and national parliament oppose the initiative, warning it would drive wealthy individuals out of the country and undermine national financial stability. Currently, the wealthiest 1% of Swiss citizens control 45% of all assets, while the top 10% of income earners pay 53% of income tax.

Business groups and center-right political parties have formed a broad opposition coalition, arguing that the tax could hurt family-owned enterprises and lead to serious economic disruption.

“The proposed 50% tax threatens the survival of family businesses and creates massive economic costs,” opponents said in a joint statement. “This isn’t just about the rich—it will ultimately affect everyone.”

If the referendum passes, Switzerland’s status as a tax haven for the global elite could be significantly challenged. Expect an exodus of wealth, legal challenges, and growing ideological polarization between generations on the role of wealth redistribution.

The November vote may become a defining moment for Swiss tax policy. As the world’s rich seek shelter from tightening fiscal policies elsewhere, Switzerland now faces a critical decision: protect its allure to billionaires or redefine its priorities for future generations.

🔗 Reported from Bern, Switzerland – World News Economic Desk

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