The Minister of Finance of BrazilFernando Haddad, urged this Thursday the G20 to act out “together” so that the super-rich stop evading taxes, by creating a global tax on great fortunes, and announced that he will present a proposal to the forum in that regard “Until July”.
“Honestly, I wonder how we, Ministers of the Economy, allow a situation like that to continue. If we act together, we have the ability to make those few individuals contribute to our society and to the sustainable development of the planet.”Haddad stated in his speech.
The Brazilian minister, recently recovered from covid-19, opened the second and last day of work of the G20 Finance Ministers and Central Bank Governors, in which they will discuss a unified tax on wealth and the growth of public debt global.
Haddad acknowledged that there has been progress in the last ten years “very important” in the area of international taxation, through the exchange of information, transparency and the implementation of minimum tax levels.
“But it is an unquestionable fact that the world’s billionaires continue to evade our tax systems through a series of strategies,” he stressed.
In the sequence, he mentioned a recent study that indicated that billionaires “They pay a percentage of taxes equivalent to between 0% and 0.5% of their wealth.”
Likewise, he recalled that at the end of last year the United Nations Assembly approved a resolution to advance an international tax system, on which the members of the G20 diverge, according to Haddad himself.
In this sense, he anticipated that in the coming months he will work on this issue to build a joint declaration within the framework of the G20. “Until July”.
“It will be a balanced and ambitious document,” advancement.
“If we join forces, we can continue to advance international tax cooperation,” he added.
Founded in 1999, the G20 is made up of Germany, Saudi Arabia, Argentina, Australia, Brazil, Canada, China, South Korea, the United States, France, India, Indonesia, Italy, Japan, Mexico, the United Kingdom, Russia, South Africa and Turkey, as well as the European Union and the African Union.
The G20 countries represent about 85% of the world’s Gross Domestic Product (GDP) and more than 75% of international trade.
Source: Gestion
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