Swiss Voters Reject Higher Inheritance Tax in National Referendum
BERN, Switzerland – November 30, 2025 – Swiss citizens overwhelmingly rejected a proposal too levy a 50% tax on inheritances exceeding CHF 2 million (approximately $2.27 million USD), according to results announced today from a nationwide referendum. The outcome signals continued resistance to wealth redistribution measures in the traditionally fiscally conservative nation.
The referendum, initiated by left-leaning political groups, aimed to address growing wealth inequality and generate additional revenue for public services. Opponents, primarily center-right and right-wing parties, argued the tax would incentivize capital flight, harm family businesses, and infringe upon constitutionally protected property rights. The final tally showed approximately 68% of voters opposing the measure, with support concentrated in urban cantons.
Switzerland currently has a tiered inheritance tax system, with rates varying by canton and the relationship between the deceased and the heir. Spouses and direct descendants generally benefit from significant tax exemptions. The rejected proposal would have dramatically increased the tax burden on larger inheritances, perhaps impacting a relatively small percentage of the population but generating considerable revenue – estimates ranged from CHF 2 to 3 billion annually.
the result of the vote is expected to reinforce Switzerland’s status as a favorable location for wealth management and family offices. Proponents of the tax have indicated they may revisit the issue in the future, potentially with a revised proposal addressing concerns about economic impact. The debate underscores the ongoing tension between social equity and economic liberalism within the Swiss political landscape.
