Plan to tax superrich divides at G20 meet

By Agence France-Presse

Jul 27, 2024 12:16 am

RIO DE JANEIRO, Brazil — Brazil's vision for a global deal to tax the ultrarich sparked divisions on Thursday at a meeting of the Group of 20 (G20) finance ministers in Rio de Janeiro, where Washington dismissed the need for an international accord on the matter.

The initiative, which was discussed at an afternoon meeting, is a key priority of Brazil's leftist president, Luiz Inacio Lula da Silva, who this year heads the G20 grouping of the world's major economies, the European Union and the African Union.

DIVISIVE General view of the G20 Ministerial Meeting in Rio de Janeiro, Brazil, on July 25, 2024. G20 finance chiefs meeting diverged over the idea of a coordinated wealth tax, promoted by Brazil but opposed by the United States. AFP PHOTO

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

US unemployment claims hit 8-month low

Oil prices settle up on China optimism

Crypto industry hopeful of Trump policy overhaul

China to increase 2025 treasury bond funding

Chinese EV giant BYD sales surge in 2024

Apple agrees to $95-M deal to settle Siri eavesdropping suit

Singapore economy grows 4.0% in 2024