This follows on the heels of a call for a minimum global tax of 2% on untaxed global wealth, which it is estimated would generate tax revenue north of $250 billion (more than R4.4 trillion) per annum if introduced.
The International Fiscal Association (IFA) looked at the latest tax developments around high-net-worth individuals during its first congress on African soil.
Rising inequality and the moral imperative behind these discussions formed part of the congress discussions.
The Brazilian proposal of an international standard follows the same principle as the current move in corporate tax to have a minimum global tax of 15% on large multinational companies, the so-called Pillar Two initiative.
The proposal comes from French economist Gabriel Zucman, who was commissioned by the Brazilian government, and was presented by Brazil during the G20 meeting in July.
Bu hikaye The Citizen dergisinin October 31, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Citizen dergisinin October 31, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Frenzied festive season here
BLACK FRIDAY: SAVVY SHOPPERS DEMAND REAL VALUE AND GREAT EXPERIENCES
Confusion as deadline looms
ZEP: 'IMPOSSIBLE TO MEET FRIDAY CUT-OFF'
Transforming your investment with your advisor
Decisions made with your retirement funds often cannot be reversed. If you don't have an embedded retirement plan, you'll probably hear things you don't like from your planner.
Making offshore waves
Structuring direct offshore investments can be valuable in a holistic strategy.
Medical aids in decline
REPORT: SHARP DROP IN COVERAGE WITH ONLY 14.7% OF POPULATION COVERED
CHIEFS BAG FULL POINTS
ENCOURAGED: TEN-MAN AMAKHOSI HOLD OFF A LISTLESS RICHARDS BAY
Rodri leaving a massive hole
Pep Guardiola and Manchester City's marriage has been so successful, that any slip is in danger of being blown out of all proportion.
Rain comes to Proteas' rescue
South Africa were saved by the weather yesterday after an onslaught from Sri Lanka's bowling attack left the hosts flailing on a rain-interrupted opening day of the first Test in Durban.
Lions gear up for test of pedigree
The Lions are set for a massive test of their United Rugby Championship (URC) top four credentials when they take on 2022-23 URC champions Munster in their match-up at Thomond Park in Limerick on Saturday night.
England wrap up T20I series
England's women's cricket team wrapped up the three-match T20 series against South Africa in dominant fashion in Benoni last night with a match to spare, after cruising to a 36-run win in the second match.