{"id":231301,"date":"2025-07-02T06:29:35","date_gmt":"2025-07-02T06:29:35","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/231301\/"},"modified":"2025-07-02T06:29:35","modified_gmt":"2025-07-02T06:29:35","slug":"spain-and-brazil-push-global-action-to-tax-the-super-rich-and-curb-inequality","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/231301\/","title":{"rendered":"Spain and Brazil push global action to tax the super-rich and curb inequality"},"content":{"rendered":"

Presented during the UN\u2019s 4th International Conference on Financing for Development<\/a> \u2013 taking place this week in Sevilla, Spain \u2013 the proposal highlights a growing problem: the richest individuals often contribute less to public finances than ordinary taxpayers, thanks to lower effective tax rates and legal loopholes.<\/p>\n

\u201cOur countries need more and more public revenues to meet their needs. Inequality is a problem everywhere and the richest pay less than the middle class \u2013 even less than lower-income taxpayers<\/strong>,\u201d said Spain\u2019s Secretary of State for Finance Jes\u00fas Gasc\u00f3n, during a press conference at the conference venue, where temperatures have soared to record highs in recent days.<\/p>\n

The two governments are calling on others to join a drive for a fairer, more progressive global tax system. They point to a stark reality: the wealthiest one per cent of the global population owns more than 95 per cent of humanity combined.<\/p>\n

\"The<\/p>\n

The Spanish Secretary of State for Finance Jes\u00fas Gasc\u00f3n (on screen) addresses a meeting at the Financing for Development conference in Sevilla, Spain.<\/p>\n

Sharing knowledge, closing gaps<\/strong><\/p>\n

In today\u2019s interconnected world access to reliable data is essential. The initiative prioritises information sharing – between governments and tax authorities \u2013 to help expose gaps in tax systems, close loopholes and combat evasion and avoidance.<\/p>\n

Improving data quality and building national capacities for data analysis will help tax administrations identify where and how wealth is concentrated, how much is currently being paid and what needs to change.<\/p>\n

Though some progress has already been made, the countries say much more must be done and many more countries should come on board.<\/p>\n

\u201cThere\u2019s a real need to know who the beneficial owners are behind companies and legal structures used to conceal wealth<\/strong>,\u201d said Mr. Gasc\u00f3n. The initiative also proposes technical cooperation, training in data analytics and peer review mechanisms to strengthen national tax systems.<\/p>\n

A global wealth registry?<\/strong><\/p>\n

Spain and Brazil are even considering steps toward a global wealth registry \u2013 acknowledging that this would take time, political will and major national efforts.<\/p>\n

But the aim is clear: more transparency, more accountability and fairer contributions from the richest.<\/p>\n

\u201cWe cannot tolerate the intensity of inequality, which has been increasing in recent years<\/strong>,\u201d said Brazil\u2019s Minister-Counsellor to the UN, Jos\u00e9 Gilberto Scandiucci denying that this was some kind of far-leftist agenda.<\/p>\n

\u201cThis is a moderate initiative to confront a very radical reality<\/strong>.\u201d<\/p>\n

The proposal forms part of the Seville Platform for Action<\/a>, which is turbocharging voluntary actions to help reach the Sustainable Development Goals<\/a> (SDGs) \u2013 currently way off track for the 2030 deadline.<\/p>\n

G20 highlights ‘high worth’ factor<\/p>\n

It also follows the 2024 agreement by the G20 industrialised nations who met in Rio (Brazil) last year \u2013 the first international accord to commit to a joint tax agenda for high-net-worth individuals.<\/p>\n

A three-month work plan is now being drawn up with regular meetings planned to track progress. The goal \u2013 bring more countries, international organisations and civil society on board to push forward tax reforms targeting the ultra-rich.<\/p>\n

\u201cIf we want to effectively tax the super-rich, fight inequality and make our tax systems fairer and more progressive, we need political will \u2013 and we need to act within our means<\/strong>,\u201d Mr. Gasc\u00f3n added.<\/p>\n","protected":false},"excerpt":{"rendered":"Presented during the UN\u2019s 4th International Conference on Financing for Development \u2013 taking place this week in Sevilla,…\n","protected":false},"author":2,"featured_media":231302,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,1700,16,15],"class_list":{"0":"post-231301","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114782232166505904","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/231301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=231301"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/231301\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/231302"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=231301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=231301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=231301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}