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Swiss Wealth Tax Rakes in Cash as Covid Stokes Global Debate (1)

Logo: Bloomberg Law

By Catherine Bosley

Switzerland’s wealth tax offers a rare real-world example of how a levy on assets can work, just as such ideas gain traction elsewhere in the wake of the coronavirus crisis. The measure forces residents in one of the world’s richest nations to tally the value of their investments, real estate, cars, fine art, Bitcoin, and even beehives and cows. A percentage is then skimmed off by cantonal governments, varying in size and method depending on the canton. Switzerland, among only a handful of countries with the levy, can make a claim that it has the most effective one. 

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By Catherine Bosley, posted on Tuesday February 16, 2021
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