European Economy Commissioner Paolo
Gentiloni on Thursday said a Brazilian proposal for a tax for
the super rich would be difficult to implement globally because
it would fall under the jurisdiction of single countries but
joint efforts should be made to take the first steps in this
direction.
Gentiloni was speaking to ANSA in Rio de Janeiro, where he is
attending a meeting of G20 finance ministers and central bank
governors
"On the Brazilian proposal for a tax for the super rich, we are
all aware that it falls under the jurisdiction of single
countries, difficult to overcome with global schemes, but I
think difficulties don't jeopardize a common commitment, in fact
the document of conclusions of this G20 will include a common
commitment to consider the first steps in this direction",
Gentiloni told ANSA.
"The first steps could concern the launch of mechanisms to share
information between different countries, in particular on real
estate", the commissioner noted, adding that ."we must not hide
the difficulties of single countries on issues such as these,
typically under national jurisdiction".
However, he praised the Brazilian presidency of the G20 for
proposing "this new challenge".
.A global tax on the super-rich has been proposed by a new
report that Brazil commissioned for its current presidency of
the G20.
Individuals with more than 1 billion dollars in total assets
would be required to pay the equivalent of 2% of their wealth in
income tax, under the proposal drafted by French economist
Gabriel Zucman, a professor at the Paris School of Economics.
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