Swiss reject inheritance tax on super-rich; Korea adheres to world's 2nd-highest rate
Swiss voters on Sunday decisively rejected a proposition that would have introduced a high inheritance and gift tax on the super-rich.
The youth wing of the Social Democrats put forward the "Initiative for the Future" to impose a 50 percent inheritance and gift tax on estates valued over 50 million Swiss francs ($62.1 million). The initiative proposed using the tax revenue to fund climate-related policies and address wealth inequality.
But the initiative was voted down by 78.3 percent of the electorate, who were concerned that the tax could driv
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