Switzerland is preparing for a national vote on a proposal to impose a 50% tax on inheritances and gifts above 50 million Swiss francs, challenging the country’s reputation as a long-standing haven for the ultra wealthy. The country’s 300 richest residents now hold roughly 850 billion Swiss francs, or just over $1 trillion, underscoring the scale of wealth at stake in the debate.
The proposed levy aims to broaden the fiscal base and address inequality concerns, but it has triggered strong pushback from high-net-worth individuals and advisors who warn it could encourage capital flight. Analysts note Switzerland’s wealthiest residents are highly mobile, with extensive options to relocate or restructure assets if taxation increases.
Polls suggest the measure is likely to fail, with recent surveys showing support near 30%. Still, the referendum has unsettled affluent households and revived questions about the long-term viability of Switzerland’s low-tax model.
