confronti 2025: The great wealth: the economic and fiscal impact of inheritances and donations in Switzerland

How can social justice and economic efficiency be reconciled when it comes to transferring wealth between generations?

This dilemma runs through all modern democracies: ensuring equal starting opportunities or respecting families’ right to freely dispose of assets that have already been taxed. It is not merely a philosophical question, but a concrete challenge that concerns social equity, the functioning of the economic system, and the sustainability of public finances.

The GISO initiative, with its proposal to tax inheritances exceeding 50 million francs at a rate of 50% to finance climate and social policies, has made this debate urgent in Switzerland. Its implications are significant and already visible: in the Canton of Geneva, for example, donations have increased markedly over the past year, signalling a tendency among wealthy families to transfer assets in advance. At the heart of this discussion are not only large family fortunes, but also the future of family businesses passed down through generations—an area that intertwines real economy, employment, and competitiveness.

Professor Marius Brülhart of the University of Lausanne will present his estimates of inheritance flows in Switzerland: around 100 billion francs per year in bequests and donations—an amount that exceeds the entire federal budget and is twice the expenditure for the AVS. This figure underscores the structural impact of this phenomenon on the country. Alongside the economic and scientific dimensions, the topic also calls for a precise legal and fiscal analysis.

Giordano Macchi, Director of the Tax Division of the Canton of Ticino, will provide an in-depth overview of current legislation and recent legal amendments, helping to outline the challenges that institutions, businesses, and citizens will face in the years ahead.

The event will conclude with the traditional round table, offering a valuable opportunity for dialogue and discussion thanks to the contributions of distinguished experts from academia, the economy, and public institutions.

The 2025 edition of confronti will therefore provide an opportunity to better understand the economic, social, and political implications of inheritances and donations, at a time when Switzerland is called upon to redefine its balance between equity, competitiveness, and individual freedom.

We look forward to welcoming you on 2 December to discuss together the future of this “great wealth” — an issue that concerns society as a whole and invites us to reflect on how to reconcile solidarity, responsibility, and economic growth for generations to come.