On Tuesday 25 June, economist Gabriel Zucman presented a report commissioned by the Brazilian Presidency of the G20 containing a blueprint for an internationally coordinated standard guaranteeing effective taxation of the very wealthy (see EUROPE B13417A20).
Individuals whose total wealth, including assets, property, shares, business ownership interests, etc., exceeds $1 billion would be required to pay a minimum amount of tax per year equal to 2% of their wealth. Following the example of...