Finance
Swiss voters reject proposed tax on super rich
Published by Global Banking and Finance Review
Posted on November 30, 2025
1 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on November 30, 2025
1 min readLast updated: January 20, 2026
Swiss voters rejected a proposed 50% tax on large inheritances, with 78% voting against it. The tax aimed to fund climate change projects but faced criticism over potential economic impacts.
ZURICH, Nov 30 (Reuters) - Switzerland on Sunday overwhelmingly rejected a proposed 50% tax on inherited fortunes of 50 million Swiss francs ($62 million) or more, with 78% of votes against the plan, an outcome that even exceeded the two‑thirds opposition indicated in polls.
Bankers have watched the vote closely, casting it as a litmus test of appetite for wealth redistribution in Switzerland, as other countries, such as Norway, have beefed up their wealth tax or debated similar moves.
Switzerland is home to some of the world's most expensive cities and anxiety about the cost of living has been gaining currency in local politics.
The proposal from the youth wing of the leftist Social Democrats, or JUSOs, aimed to fund projects to reduce the impact of climate change. "The super rich inherit billions, we inherit crises," they argued.
Critics of the initiative said it could trigger an exodus of wealthy people from Switzerland, reducing overall tax revenues. The Swiss government urged voters to reject it.
(Reporting by Ariane LuthiEditing by Tomasz Janowski)
A wealth tax is a tax based on the market value of assets owned by an individual or household. It is typically applied to high-net-worth individuals and aims to redistribute wealth.
Inheritance tax is a tax imposed on individuals who inherit money or property from a deceased person. The tax rate can vary based on the value of the inheritance and local laws.
Wealth redistribution is a policy aimed at reducing economic inequality by reallocating wealth from the rich to the poor through taxation and social welfare programs.
Inherited fortunes refer to wealth passed down from one generation to another, typically through family estates, investments, or other assets that are transferred upon death.
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