February 29, 2024. As for the first time a proposal for a global minimum tax on the super-rich was discussed at the G20 Finance Ministers meeting in São Paulo earlier today, Nobel laurate and ICRICT co-chair Joseph Stiglitz said:

“Under Brazil's leadership, the issue of taxing the super-rich is finally being discussed by the G20. I urge G20 leaders to adopt this new agenda on international tax coordination to ensure that these individuals start paying their fair share to enable governments to face the challenges of climate change, pandemics, and inequality, and make essential investments in education, health, infrastructure and technology.”.

Renowned economist and ICRICT co-chair Professor Jayati Ghosh said:

“We applaud the leadership of Brazil in pushing a new international tax agenda focused on taxation of the super-rich and we urge G20 leaders to embrace this much needed agenda. It is time that we put an end to the ability of the super-rich to pay less taxes than a teacher in Delhi or a factory worker in Sao Paulo, which is enabled by the failures in our international tax system.”

Professor Gabriel Zucman, Director of the European Tax Observatory and ICRICT commissioner said:

“A 2 percent minimum tax on billionaires' wealth could raise about $250 billion a year, equivalent to the amount raised by the global minimum tax on multinational corporations. Money from both of these taxes could help governments around the world cope with the devastating impacts of climate change”