France and Brazil wish to impose a brand new tax on the world’s richest individuals.
It’s believed that if a brand new wealth tax is imposed on the three,000 richest individuals on the planet, 250 billion {dollars} could be collected yearly.
The European Tax Observatory made the proposal to Brazil’s G20 presidency, which the finance ministers of France and Brazil will meet in Washington tomorrow (Wednesday, April 17).
On this assembly, the 2 finance ministers may even define different world initiatives to tax the world’s richest individuals.
The brand new measures embrace extra info sharing between G20 tax authorities, more durable transparency obligations for taxpayers and new provisions to stop wealthy individuals from defrauding tax assortment authorities.
In line with sources, the proposal states that the minimal charge of this tax needs to be 2 p.c.
Understand that if wealth tax is imposed on 3,000 wealthy individuals of the world at this charge, it could actually generate new earnings of 250 billion {dollars}.
