The economist Gabriel Zucman, one of the world’s leading experts on taxation, presented this Tuesday a report commissioned by the Brazilian Presidency of the G20 in which a proposal for a minimum global tax on the income of citizens is detailed. ultra rich.
The proposal is that around 3,000 billionaires pay at least 2% of their wealth, compared to the current 0.3%, which would help governments raise between 200,000 and 250,000 million dollars annually around the world.
Zucman He stated during a press conference that the “coordination“between countries is a”powerful instrument” to reduce inequality and said that the tax is “technically feasible” and can be put into practice successfully.
Although the associate professor at the University of Berkeley in the United States acknowledged that assessing the wealth of the ultra-rich is a challenge, he said that about half of it is in shares of publicly traded companies, which makes the job easier.
“The idea is to establish a common standard that allows domestic implementation by countries. Will not require a new multilateral treaty”, he stated.
According to the French economist, there are already several countries that have expressed their support for the proposal, including Spain, France, Colombia and South Africa, in addition to Brazil.
“The report is a technical document whose objective is to fuel the debate, show the range of possibilities. Now the political discussion will begin“, he claimed.
The Brazilian Government intends to discuss the tax with other members of the G20 ahead of the summit to be held in Rio de Janeiro in November, at which time the Latin American country will pass the baton to South Africa as the Presidency of the group.
The general coordinator of International Financial Affairs of the Brazilian Ministry of Finance, Felipe Antunes de Oliveirasaid during the press conference that there is “much interest” in the proposal, but that it is difficult to know how quickly the talks will advance to put it into practice.
“Between the countries we can expect that the negotiations will be long, but we have to keep moving”, he assured.
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Source: Gestion
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