Truth or tale: Would inheritance taxes trigger a mass exodus of millionaires from Switzerland?

Published on December 19, 2025

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Swissinfo
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After Swiss voters rejected a proposal to introduce a 50% tax on inheritances over CHF50 million, Swissinfo readers began debating whether taxing the wealthy drives them abroad, with some even claiming this is already happening in countries such as Norway and the UK. We took a closer look. The “For a social climate policy” initiative, launched by the youth section of the left-wing Social Democratic Party (JUSO), proposed a 50% tax on any inheritance or gift worth more than CHF50 million ($63 million). The revenue was to be earmarked for tackling climate change. The proposal was based on the belief that the very wealthy, whose lifestyles have a greater impact on global warming, should contribute more to climate protection. But the initiative was rejected by 78.3% of Swiss voters, with fears that the super-rich would leave the country helping to tip the balance. Switzerland’s super-rich warn they may leave The “No” camp included several high-profile figures. Peter Spuhler, owner of ... Full story here Are you the author?

About Swissinfo

SWI swissinfo.ch – the international service of the Swiss Broadcasting Corporation (SBC). Since 1999, swissinfo.ch has fulfilled the federal government’s mandate to distribute information about Switzerland internationally, supplementing the online offerings of the radio and television stations of the SBC. Today, the international service is directed above all at an international audience interested in Switzerland, as well as at Swiss citizens living abroad.

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