Pressure grows for a global wealth tax. This and other recent developments in international tax are examined by Tim Sarson (KPMG).
Global taxation of UHNWIs
Regular readers of this update will be aware that I have been closely following developments on proposals for a global tax on billionaires that is being discussed at the G20.
On 25 June 2024 economist Gabriel Zucman released his report commissioned by the Brazilian G20 presidency A blueprint for a coordinated minimum effective taxation standard for ultra-high-net-worth-individuals (‘the blueprint’) that explores such a tax in more detail. The blueprint asserts that contemporary tax systems fail to tax ultra high-net-worth individuals (UHNWIs) effectively clarifies the case for international coordination to address this issue analyses implementation challenges and provides revenue estimations.
Zucman proposes that a minimum tax on billionaires equal to 2% of their wealth could raise $200–250bn per year...
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Pressure grows for a global wealth tax. This and other recent developments in international tax are examined by Tim Sarson (KPMG).
Global taxation of UHNWIs
Regular readers of this update will be aware that I have been closely following developments on proposals for a global tax on billionaires that is being discussed at the G20.
On 25 June 2024 economist Gabriel Zucman released his report commissioned by the Brazilian G20 presidency A blueprint for a coordinated minimum effective taxation standard for ultra-high-net-worth-individuals (‘the blueprint’) that explores such a tax in more detail. The blueprint asserts that contemporary tax systems fail to tax ultra high-net-worth individuals (UHNWIs) effectively clarifies the case for international coordination to address this issue analyses implementation challenges and provides revenue estimations.
Zucman proposes that a minimum tax on billionaires equal to 2% of their wealth could raise $200–250bn per year...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
