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.
Author: Lusa
Source: CM Jornal
I am Michael Melvin, an experienced news writer with a passion for uncovering stories and bringing them to the public. I have been working in the news industry for over five years now, and my work has been published on multiple websites. As an author at 24 News Reporters, I cover world section of current events stories that are both informative and captivating to read.