German Millionaires Rush Assets to Switzerland Ahead of Election

German Millionaires Rush Assets to Switzerland Ahead of Election
Switzerland's national flag flies above the logo of Swiss bank Credit Suisse at its headquarters in Zurich, Switzerland, on April 18, 2021. Arnd Wiegmann/Reuters
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ZURICH—A potential lurch to the left in Germany’s election on Sunday is scaring millionaires into moving assets into Switzerland, bankers and tax lawyers say.

If the center-left Social Democrats (SPD), hard-left Linke, and environmentalist Greens come to power, the reintroduction of a wealth tax and a tightening of inheritance tax could be on the political agenda.