Spain and Brazil Propose Global Super-Rich Tax

Spain and Brazil launched an initiative calling for higher global taxes on the super-rich to address rising inequality.

The proposal emphasizes data sharing between governments and tax authorities to close loopholes and combat tax evasion.

It suggests building national capacity in data analysis to accurately track wealth concentration and tax contributions.

The initiative considers establishing a global wealth registry for greater transparency and accountability.

The plan builds on a G20 agreement and includes technical cooperation, training, and peer review mechanisms to strengthen tax systems.