The Path for Taxing the Super-Rich

Extreme wealth concentration can no longer be dismissed. Each year an increasing share of the wealth generated from global economic growth ends up in a few hands, exacerbating the concentration of economic and political power, undermining growth and our democracies.

There is unprecedent momentum for taxing the wealthiest and tackling tax evasion. A coordinated global wealth taxation agenda could bring new revenues for public goods and climate financing. There is a broad consensus on a global minimum tax on multinational's profits, it is now the moment for individuals’ income and wealth.

Brazil’s G20 presidency can lay the first building block and is already championing the discussion, inviting economist Gabriel Zucman to present a blueprint report to G20 countries in June.

Session Objectives:

1. Present why it is time for a new global agenda on taxing the wealthiest and highlight the need for international coordination for setting more consistent standards to also address tax avoidance and tax competition.
2. Showcase the leadership of Brazil in its G20 presidency in pushing for an international agenda on progressive taxation on high-net-worth individuals
3. Discuss how the IMF can support a global agenda on taxing the wealthiest to contribute to reducing inequality in all countries

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