A Tax on the Ultra-Wealthy: Switzerland Prepares for High-Stakes Referendum
The Swiss referendum on inheritance tax is causing concern in the private wealth sector.
National stereotypes can be a dangerous thing, but some exist for good reason. Take Switzerland’s reputation as a haven for private wealth, which has been based on firm foundations, such as its banking privacy laws and friendly tax regime.
Little wonder the Mitteleuropean nation topped a recent UBS ranking of countries according to average wealth per adult. But could things be about to change?
A left-wing youth movement in the country, led by Mirjam Hostetmann, has gathered 100,000-plus signatures in support of its proposal for a federal inheritance tax on the super rich.
Author's summary: Switzerland considers a tax on the ultra-wealthy.
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