Millionaires threaten to leave Switzerland after 50% tax proposal
Owners of multi-million dollar fortunes are ready to leave Switzerland rather than give up half of their capital.
The authorities of a European country are considering the option of introducing a 50% tax for the heirs of millionaires.
In Switzerland, there are 2,500 taxpayers whose wealth exceeds 50 million francs ($59 million), Bloomberg writes.
Members of the youth organization "Young Socialists of Switzerland" have proposed imposing a 50% tax on heirs to large fortunes.
This will affect anyone who inherits assets totaling more than 50 million francs.
For now, this is only an initiative. And it may be brought up for discussion at a national forum around 2026.
But millionaires are already saying they are ready to leave Switzerland and find a country with a more lenient tax climate.
Switzerland has long been considered a country with favorable conditions for doing business and low tax rates, which attracts wealthy people from all over the world.
