G20 Discusses Global Minimum Tax Proposal

At the meeting of finance ministers and central bank governors of the #G20 countries in São Paulo, Brazil, Gabriel Zucman discussed the possible introduction of a global minimum tax for billionaires. The EU Tax Observatory, a Paris-based analytical center led by Zucman, outlined the mechanism for a global wealth tax in last year’s report. It proposes an annual tax of 2% on wealth as a starting point (according to point 2 of the recommendations in the “Global Tax Evasion 2024” report – pages 76-78). As Zucman himself noted, “it is difficult to say at this point how much time will be needed to introduce this tax – one year, five, ten, or twenty years”. This move heralds a new era in tax policy, sparking discussions about its potential implications for the economy and society.

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