Programme
The great wealth: the economic and fiscal impact of inheritances and donations in Switzerland
2 dicembre 2025, dalle ore 9.30 alle 13.00
Aula Magna Campus Ovest
Università della Svizzera italiana, Lugano
How can social justice and economic efficiency be reconciled when it comes to transferring wealth between generations?
This dilemma runs through all modern democracies: should we guarantee equal starting opportunities, or respect families’ right to freely dispose of assets that have already been taxed? It is not merely a philosophical question, but a concrete challenge that touches on 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 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 risen markedly over the past year, signaling a tendency among wealthy families to transfer assets in advance.
At the heart of this reflection lie not only large family fortunes but also the future of businesses passed down from generation to generation. It is an area that intertwines real economy, employment, and competitiveness.
Professor Marius Brülhart from University of Lausanne will present his estimates of inheritance flows in Switzerland: approximately 100 billion francs per year in bequests and donations, an amount exceeding the entire federal budget and double the expenditure on the AVS. This figure underscores the structural impact of the phenomenon on the country as a whole.
Alongside the economic and scientific dimensions, the issue 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 perspective on current legislation and recent legal developments, helping to outline the challenges that institutions, businesses, and citizens are facing nowadays.
The traditional round table will follow, offering an important opportunity for an extensive discussion and exchange, thanks to contributions from distinguished experts from the academic, economic, and institutional spheres.
This edition of confronti will therefore be an opportunity to gain a deeper understanding of the economic, social, and political implications of inheritances and gifts, at a time when Switzerland is called upon to redefine its balance between fairness, competitiveness, and individual freedom.
We look forward to seeing you on December 2 to discuss the future of this “great wealth”: an issue that deeply concerns society as a whole and invites us to reflect on how to reconcile solidarity, responsibility, and economic growth for future generations.
Rector of the Università della Svizzera italiana (USI)
The event will be held in Italian and English, with simultaneous translation available.
Prof. Marius Brülhart
Faculty of Business and Economics, University of Lausanne
"In 21st-century Switzerland, inheritance has been growing twice as fast as incomes. Inheritance and inter-vivos gifts will probably break the CHF 100 billion barrier this year. This large annual wealth transfer often benefits the already wealthy and at an advanced age. It is also mostly tax free. The average inheritance tax rate in Switzerland has fallen from 4.5% in the 1990s to 1.5% today. There are good economic arguments for rethinking this policy trend."
Avv. Simona Genini
LL. M. International Tax Law, Tep e deputata al Gran Consiglio
"Grande ricchezza, tra paure e caricature. Tra le paure per gli effetti di un’imposta sulle successioni e la caricatura della ricchezza egoista. Riflessioni dopo il voto popolare del 30 novembre scorso sull’iniziativa della gioventù socialista."
Giordano Macchi
Direttore della Divisione delle Contribuzioni del Cantone Ticino
"L'imposta di donazione e successione ha sempre avuto sia fervidi sostenitori, che accesi oppositori. Per alcuni è preminente il principio di "uguaglianza al punto di partenza", quindi ben venga una imposizione molto alta. Per altri il risparmio dovrebbe essere semplicemente delle famiglie che l'hanno conseguito (già pagando le imposte sui redditi). La vivacità della teoria e della politica quindi implicano una legislazione di imposta sempre in movimento. Daremo uno sguardo al diritto vigente, alle modifiche recenti e al gettito nel contesto ticinese. Commenteremo il risultato della votazione federale sul tema."
Nicola Tettamanti
CEO presso Tecnopinz SA - Presidente Swissmechanic
"Con il cambiamento demografico in corso, la successione e la donazione aziendale rappresentano oggi una sfida cruciale per il tessuto industriale svizzero. Garantire il passaggio generazionale nelle PMI significa preservare competenze, innovazione e posti di lavoro. Serve dunque un quadro fiscale stabile e lungimirante, che sostenga coloro che generano un valore sostanziale per il nostro paese."
Programme
| 9.30 | Registration and welcome coffee |
| 10.00 | Welcome and introduction Welcome address by Prof Luisa Lambertini, Rettrice dell’USI Welcome address by Prof. Giovanni Pica, Dean of the Faculty of Economics, USI |
| 10.15 | Keynote speaker
Inheritance in Switzerland Prof. Marius Brülhart, Faculty of Business and Economics, University of Lausanne |
| 10.50 | Q&A with Prof. Marius Brülhart |
| 11.10 | Coffee break |
| 11.30 | L’imposta di successione in Ticino
Giordano Macchi, Direttore della Divisione delle Contribuzioni del Cantone Ticino |
| 11.45 | Round table moderated by Davide Arioldi, ricercatore IRE
Prof. Marius Brülhart, Faculty of Business and Economics, University of Lausanne Avv. Simona Genini, LL. M. International Tax Law, Tep e deputata al Gran Consiglio Giordano Macchi, Direttore della Divisione delle Contribuzioni del Cantone Ticino Nicola Tettamanti, CEO presso Tecnopinz SA - Presidente Swissmechanic |
| 12.50 | Closing remarks
Prof. Mario Jametti, USI Faculty of economics, Director of the IRE |
| 13.00 | Buffet |
