Representatives from the world’s 20 largest economies and observers such as Portugal are debating Thursday-Friday the possibility of introducing a tax on the super-rich, as proposed by Brazil, that could raise 250 billion euros annually.
Initial findings from a report commissioned by the Brazilian government by economist Gabriel Zucman suggest that a 2% minimum tax on billionaires would be the best option to restore tax progressivity worldwide and raise more than $250 billion (€230.9 billion) a year.
There are fewer than 3,000 billionaires in the world, according to the head of the EU Tax Observatory.