50 percent tax for climate protection Federal Council warns of the consequences of the Juso inheritance tax initiative
The Federal Council warns of the consequences of the Juso initiative to tax inheritances worth millions in favor of climate protection. In its view, the referendum could lead to lower revenues on balance.
13.12.2024, 14:00
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- The Federal Council rejects the popular initiative for a social climate policy and has decided not to submit a counter-proposal.
- The initiative calls for a 50 percent tax on inheritances over CHF 50 million in favor of climate protection assumptions.
- According to the Federal Council, the initiative could lead to a reduction in revenue for the cantons and municipalities and cause a migration of the tax base of the super-rich with negative economic consequences.
On Friday, the Federal Council submitted the dispatch on the popular initiative "For a social climate policy - fairly financed through taxation (Initiative for a future)" to parliament. The initiative calls for a 50% tax on estates and donations of more than CHF 50 million. This money is to be invested in climate protection measures.
As already announced in May, the Federal Council rejects the initiative for numerous reasons. It also does not want a counter-proposal.
According to the Federal Council, estimates based on an expert report show that the initiative could lead to a reduction in revenue, particularly for the cantons and municipalities. Up to 98 percent of the tax base of the super-rich could therefore move out of Switzerland - with negative consequences for the economy.
