Retroactive inheritance tax “highly problematic” according to the Federal Council
Published: Thursday, Aug 22nd 2024, 15:40
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After business giants warned against the Juso inheritance tax initiative and threatened to move their companies away prematurely, the Federal Council has now spoken out. Retroactive taxation of estates and gifts would be "highly problematic in terms of state policy".
In the summer, for example, former SVP National Councillor and entrepreneur Peter Spuhler spoke out strongly against the Juso inheritance tax initiative. This would force him and his company to leave Switzerland in advance. Ems boss and SVP National Councillor Magdalena Martullo-Blocher expressed similar views.
Critics of the bill demanded solutions from the Federal Council so that companies would not be forced to move abroad before the vote. In its response published on Thursday to an interpellation by FDP National Councillor Daniela Schneeberger, the Federal Council states "that the demanded retroactive taxation of estates and gifts is highly problematic in terms of state policy".
The Federal Council shares the concern that those potentially affected by the initiative should be given clarity about its possible implementation as quickly as possible. In the dispatch to be adopted by the beginning of February 2025 at the latest, it will comment in detail on the interpretation of the popular initiative and its possible implementation in the event of its adoption. It had already announced in May that it rejected the popular initiative for numerous reasons.
Open questions on retroactivity
The popular initiative "For a social climate policy - fairly financed through taxation (Initiative for a future)" calls for the introduction of an inheritance tax of 50 percent on assets of CHF 50 million or more, which would also affect entrepreneurs. The initiative also provides for measures to prevent tax avoidance, particularly in relation to emigration from Switzerland. According to the text of the initiative, these are to come into force retroactively to the day of the vote.
In its response to the interpellation, the Federal Council wrote that if the initiative were to be adopted, its implementation would in any case have to comply with the requirements of constitutional and international law and, in particular, the principle of proportionality. It is also questionable whether the retroactive effect would also apply to the required tax avoidance measures.
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