Swiss voters have gone to the polls and resoundingly rejected a proposed federalization of the inheritance tax system. Over %71 of the voters said no and carried every canton of the Alpine nation. The new law would have replaced a system of local inheritance taxes with a centralized system that would have provided money for the country’s retirement system. However, the change had been subject to stiff opposition since it was proposed with the challengers stating that it would hurt family businesses and drive away residents that had significant movable assets.
See Neil Maclucas, Swiss Voters Overwhelmingly Reject Federal Inheritance Tax Initiative, Wall Street Journal, June 14, 2015.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
