Swiss voters on Sunday overwhelmingly rejected a proposal to impose a 50 per cent inheritance levy on the super-rich, in a contentious referendum that came as governments around the world wrestle with how to tax the wealthy.
More than 80 per cent rejected the initiative, with about 42 per cent of the population participating by Sunday afternoon. Opponents of the measure had feared that a narrow defeat would invite other similar tax proposals in years to come.
The referendum, one of the most divisive in recent Swiss political memory, comes amid a global split between countries competing to lure wealthy families with fiscal incentives and those seeking to tax what they see as excessive fortunes.
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