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Olivier Weber

ABOUT THE AUTHOR

Olivier Weber graduated from the University of Berne, qualified as an attorney-at-law and was admitted to the Bar. He started his tax advisor career within a big 4 accounting firm where he obtained his diploma as Swiss certified tax expert in 2002. 2010 he joined KENDRIS Ltd. as partner and shortly after was promoted Head of Tax. He serves as member of the board of director of KENDRIS and some selected active companies-. He consults individuals and corporates with a focus on national and international taxation, negotiations with tax authorities, appeal proceedings as well as succession planning, including financing concepts and refinancings. Olivier Weber regulary lectures on tax topics and is president of the examination commission for Swiss certified tax experts.
Much ado about nothing

by Olivier Weber | Dec 16, 2024 | Tax

The case

The Swiss Federal Council has rejected the Young Socialists’s initiative on inheritance tax without submitting a counter-proposal.

Source: Neue Zürcher Zeitung e-paper, 13 December 2024;  Radio SRF1 news, 13 December 2024; Botschaft

The commentary

Introducing the new law on inheritance tax might affect around 2,500 people though the Swiss Federal Council did point out that moving to a different country would not be required before the referendung as levying an exit tax is out of the question.

If the initiative is approved, this will affect almost the whole of the tax base, who would most probably emigrate – which, in turn, would entail a decline in revenue instead of creating additional revenue.

This is the conclusion that has to be drawn in the case of the Young Socialists’s initiative for a national inheritance tax and gift tax of 50 % on assets exceeding CHF 50 million. Although such a massive tax is likely to face resistance at the ballot box, the submission of the initiative has already made those potentially affected nervous and prompted them to stretch out their feelers in search for alternatives.

Parliamentary deliberations are next on the agenda. The referendum has been planned for November 2025.

This publication has been prepared solely for information purposes and is does not constitute a recommendation, a solicitation, or an offer. The information on which this publication is based has been obtained from sources that we believe to be reliable and in good faith, but we have not independently verified such information and no representation or warranty, express or implied, is made as to its accuracy. All expressions of opinion are made as of the date of publication and may be subject to change without notice. k-flash and all related affiliates accepts no liability or responsibility whatsoever for any consequential loss of any kind arising out of the use of this publication or any part of its contents. The use of this publication should not be regarded as a substitute for the exercise by the recipient of his or her own judgment. This publication is not directed to any person in any jurisdictions that prohibit such publication.
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