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"G20 Considers Global Tax to Ensure Super-Rich Pay Fair Share"

Brazil's finance minister proposed a global tax on the super-rich at a G20 meeting in Sao Paulo, emphasizing the need for international cooperation to tackle tax evasion and reduce inequalities. The proposal aims to address the estimated $4.8 trillion in lost tax revenue due to tax havens and the effective tax rates of billionaires. This initiative aligns with growing global consensus, including a UN resolution, for stronger international tax cooperation, although challenges remain in reaching a common document.

1 year ago•Source: The Associated Press

G20 Summit: Navigating Global Challenges and Economic Resilience

global-economics

3.13 min•1 year ago

G20 Summit: Navigating Global Challenges and Economic Resilience

Brazil's finance minister called for a "new globalization" focused on addressing poverty and climate change at the G20 meeting, but conflicts in Ukraine and Gaza threatened to overshadow the agenda. The G7 discussed seizing frozen Russian assets to aid Ukraine, while Brazil aims to prioritize fighting poverty and climate change, alleviating debt burdens, and increasing taxes on corporations and the super-rich. The meeting also addressed the urgent need for financial assistance for Ukraine and the potential economic risks of the conflict in Gaza.

via Yahoo News