ICRICT stresses the need for coordinated global action to fairly tax high-net-worth individuals, who often pay lower effective rates than ordinary citizens. Wealth is hidden through offshore structures and loopholes in tax treaties, eroding equality and trust. The Commission calls for a UN protocol with stronger transparency through global beneficial ownership registries and extended automatic information exchange on all asset classes; harmonized asset valuation; and a minimum effective tax standard, preventing unfair tax competition by modifying treaties and implementing tools like exit taxes.
