Today Brazil’s finance minister called on the G20 countries to “find effective solutions so that the wealthiest pay their fair share in taxes”, as he characteristically pointed out. At the same time, he expressed his hope that by July they will have adopted a common position regarding the issue of billionaires.
“Despite recent advances, it is undeniable that billionaires continue to evade our tax systems, resorting to a number of strategies,” Fernando Haddad pointed out. His statements were made during the second and last day of the Summit of the G20 countries in Sao Paulo.
“I honestly wonder how we allowed this situation to continue. If we act together, we can ensure that these individuals contribute to our societies and to the sustainable development of the planet,” he also noted.
The G20 countries, with their economies, represent 80% of global GDP. Minimum taxation of the richest people internationally is one of the priorities, with the country’s minister hoping for an agreement on a joint statement by the next G20 meeting in July. A “fair and scalable taxation” is “the key to solving many of the challenges we are facing”, he underlined.
In fact, during the Summit, Brazil invited the French economist and expert on inequalities and tax havens Gabriel Zucman to present his proposals for a minimum taxation of the wealth of billionaires. Yesterday, on the sidelines of the G20 summit, French Economy Minister Bruno Le Maire said that Paris wants to “accelerate” negotiations at the international level on this matter.
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