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Swiss voters have clearly rejected the inheritance tax initiative (official name: "initiative for a social climate policy – financed fairly through taxation" or in short "Initiative for a Future)”, which sought to introduce a 50% federal inheritance and gift tax on transfers above CHF 50 million with the proceeds used to combat the climate change. The tax would have been in addition to existing cantonal and municipal taxes. The electorate reaffirmed Switzerland's long‑standing fiscal federalism and stability with 78.3% of the population and all 26 cantons voting "No". This is a milestone decision that underscores Switzerland's reliability as a stable location for investment and long‑term planning.
Legally and for planning purposes, the status quo continues to apply. There is to be no introduction of federal inheritance or gift tax. Cantonal inheritance and gift taxes, if any, continue to apply, with their existing exemptions (most importantly for spouses and in most cantons for descendants), rates (depending on the relationship / degree of kinship to the deceased or donor) and reliefs.
While this proposal is now off the table, the broader policy conversation on climate financing and intergenerational wealth transfer is likely to continue. For families and enterprises, early and comprehensive planning of succession and the transfer of assets to the next generation remains the most resilient approach - we are happy to assist you.
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