Minimum tax on billionaires would raise up to $250bn a year, says report

A global minimum tax on billionaires raising up to $250bn a year is “technically feasible” and could be successfully enforced even if it was not adopted by every country, according to a report commissioned by the G20. Gabriel Zucman, an economist and author of the paper, said a co-ordinated minimum tax on the total wealth of the world’s 3,000 billionaires was needed to increase their contributions. The current effective tax rate of billionaires was equivalent to just 0.

However, it acknowledged “several potential challenges” were associated with the idea. These included the difficulties of valuing individuals’ wealth, improving compliance and ensuring effective taxation if some countries refused to implement the levy. Dan Neidle, founder of the think-tank Tax Policy Associates, was more critical, arguing the proposal would struggle to gain traction where it mattered. “The two countries with the largest number of billionaires are the US and China.

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Conservatives pledge major overhaul of homicide laws that will see minimum sentences for murders...Minimum sentences for murders which take place in the home will increase from 15 to 25 years, the Conservative Party's manifesto will say.
Source: DailyMailUK - 🏆 7. / 90 Read more »

Labour won't reject poverty pay and commit to £15-an-hour minimum wage“TEETERING on the edge of poverty”, “living in poverty”, “in deep poverty”, “in very deep poverty”; the multiple categories of…
Source: SunScotNational - 🏆 49. / 63 Read more »

Alex Salmond claims Alba aiming to win 'minimum' of 20 MSPs at 2026 electionThe former first minister said his party was the only one offering voters an 'unambiguous' commitment to achieving Scottish independence.
Source: Daily_Record - 🏆 9. / 89 Read more »

Labour to promise new £12-per-hour minimum wage for carersSir Keir Starmer will promise the nation’s 1.5m care workers their wages will be protected by a Fair Pay Agreement to bring them closer into line with nurses and other NHS staff, if Labour wins the election
Source: i newspaper - 🏆 8. / 89 Read more »

Fans stunned after learning the minimum salary for a WWE superstarThe minimum salary for a WWE superstar has been revealed.
Source: sportbible - 🏆 89. / 53 Read more »

Vowles thinks no F1 team will hit minimum weight in 2026Formula 1 teams will struggle to hit the lower minimum weight limit expected to feature in the 2026 regulations, reckons Williams team principal James Vowles.
Source: Motorsport - 🏆 11. / 86 Read more »