Governments should open a new front in the international clampdown on tax evasion with a global minimum tax on billionaires, which could raise $250 billion annually, the EU Tax Observatory said on Monday.

cross-posted from: https://lemmy.ca/post/7812500

PARIS, Oct 23 (Reuters) - Governments should open a new front in the international clampdown on tax evasion with a global minimum tax on billionaires, which could raise $250 billion annually, the EU Tax Observatory said on Monday.

If levied, the sum would be equivalent to only 2% of the nearly $13 trillion in wealth owned by the 2,700 billionaires globally, the research group hosted at the Paris School of Economics said.

  • @[email protected]English
    17•1 year ago

    That’s really easy to avoid. Make the tax start at 100 million or something and you won’t hit a single middle to upper class home owner.

    • BraveSirZaphod
      5•1 year ago

      You’ll suddenly find a lot of people with 99 million in assets and a cousin in the Cayman Islands that owns a few yachts and jets.

      • ericEnglish
        6•1 year ago

        When they pass all those millions to a cousin, they can be taxed.