According to The Guardian, more countries are considering raising taxes on the super-rich, which is why the campaign group said in its report that Spain’s 0.5% a “feather-light” tax on the wealthiest households could raise trillions of dollars worldwide every year.
The Spanish government, led by Socialist Prime Minister Pedro Sánchez, in 2022 introduced a temporary “solidarity” wealth tax at the end of 2023 and 2024, on individuals’ net assets exceeding 3 million. Euros (£2.6 million). It is estimated that it will be applied at 0.5 percent. of the richest households.
According to the Tax Justice Network, a similar tax of 0.5 percent of the wealthiest households worldwide and at a rate of 1.7-3.5 percent. tariff, about 2.1 billion would be collected. dollars.
The study excludes some exemptions from Spain’s tax, including shares in listed companies, intellectual property and industrial property, and some high-value assets such as ships and aircraft.
It is mentioned that up to 31 billion will be collected from the United Kingdom during the year. dollars.
The study comes as the G20 countries consider plans to introduce a universal minimum tax on the world’s 3,000 billionaires under the presidency of leftist leader Luiz Inácio Lula da Silva. France, Germany, Spain and South Africa have also declared their support for the proposals.
However, an agreement is likely to take years to reach and may face resistance from several countries, according to an article in The Guardian.
Alison Schultz, a researcher at the Tax Justice Network, said: “A minority of rich countries still appear to be against a strong tax framework convention, even though it is the best option ever, and their populations are demanding urgent action.”
While it warns that the ultra-wealthy may relocate, the Tax Justice Network said previous reforms in some countries have kept the ultra-wealthy from moving.
After wealth tax reforms in Norway, Sweden and Denmark, just 0.01 percent moved. of the richest households, and a UK study estimated that in 2017 after changing the non-household income rules, just 0.02 percent moved. of the richest households.
In the UK, Rachel Reeves has previously ruled out a new wealth tax. However, the chancellor, in order to collect more than 5 billion pounds sterling, removes non-household status. It is believed that on October 30 in the budget, it is also considering raising taxes on capital gains, inheritance and pensions.
Based on information from The Guardian.
2024-08-28 20:38:26