The G20 finance ministers, meeting from Wednesday 24 to Friday 26 July in Rio de Janeiro, Brazil, pledged in their declaration published on the final day “to engage cooperatively to ensure that ultra-high-net-worth individuals are effectively taxed”.
“With full respect to tax sovereignty”, they said that this cooperation could “involve exchanging best practices, encouraging debates around tax principles, and devising anti-avoidance mechanisms, including addressing potentially...