Swiss parliament rejects initiative to tax huge inheritances

A national tax on million-franc inheritances for climate protection has no chance in parliament. +Get the most important news from Switzerland in your inbox On Tuesday parliamentarians also rejected an alternative constitutional article to the initiative put forward by the Juso, the youth section of the left-wing Social Democratic Party. The initiative will therefore be put to the ballot box without a counter-proposal. The Senate voted against it on Tuesday by 36 votes to seven with one abstention. The Juso is calling for a tax of 50% on estates of over CHF50 million ($62 million). The revenue should go to the federal government and cantons and be invested in climate protection, it says. + Will a drastic hike in Swiss inheritance tax lead to an exodus of billionaires? It is also calling for measures to prevent tax avoidance, particularly in relation to emigration. The fact that the tax would be due immediately after a yes vote had already triggered lively discussions about emigration. Full story here Are you the author? Previous post See more for 3.) Swissinfo Business and Economy Next post
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