Billionaire tax proposal off the table at G20 meet

By Reuters

Jul 26, 2024 12:25 am

RIO DE JANEIRO — G20 finance leaders meeting in Brazil were preparing a joint statement for Thursday in support of progressive taxation that would stop short of endorsing the hosts' proposal for a global 'billionaire tax,' two officials told Reuters.

Brazil's presidency of the Group of 20 major economies this year has drummed up initial support from some countries for a joint effort to tax ultra-high-net-worth individuals, although debate has been preliminary.

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