Deal on Brazil plan to tax super-rich off the table at G-20, say German sources
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Officials from the G-20 countries meet in Rio de Janeiro this week.
PHOTO: REUTERS
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BERLIN – An agreement on Brazil’s proposal to tax the super-rich remains off the table as officials from the Group of 20 (G-20) countries meet in Rio de Janeiro this week, German Finance Ministry sources said on July 23.
Brazil, heading the presidency of the G-20, is aiming to build international consensus on the taxation of wealth in 2024 and was pushing for a joint declaration at the meeting of G-20 finance ministers and central bankers.
There will be no concrete discussions at the meetings in Brazil on July 25 and July 26 and the plans are “not even close to consensus”, a source said.
Other ideas are being discussed, such as how to prevent wealth concealment, how to combat tax avoidance and how to create more transparency, the sources said.
There will be a document focusing only on financial issues.
Due to the differing positions on the conflicts in Ukraine and the Middle East, the views of countries on these topics will only be summarised in a separate paper by the Brazilian hosts. REUTERS
