Spotlight on global minimum taxes shifts to individuals by Mindy Herzfeld
By: Herzfeld, Mindy
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Material type: 
ArticlePublisher: 2024Subject(s): IMPUESTO SOBRE LA RENTA DE LAS PERSONAS FISICAS | IMPUESTOS | BIENESTAR SOCIAL | EVASION FISCAL | ELUSION FISCAL | POLITICA FISCAL | ESTADOS UNIDOS
In:
Tax Notes International v. 114, n. 10, June 3 2024; p. 1463-1467Summary: Progressive tax advocates are fresh off the twin victories of countries’ formal adoption of a global corporate minimum tax and the promise that the U.N. will be taking on a larger role in multilateral tax policy coordination. Rather than resting on their laurels, activists are building momentum for the next initiative, a global minimum tax on billionaires. Brazil, which holds the G20 presidency, has made a global wealth tax a key plank of its agenda. But the Biden administration — which has been a strong supporter of a global corporate minimum tax — is opposed. How might the political successes of the global corporate minimum tax be translatable to a global minimum tax on individuals’ wealth? Could the design of a global wealth tax draw from a corporate minimum tax to result in successful implementation?
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| OP 138-Bis/2024/113/9 Tax Notes International | OP 138-Bis/2024/114/1 Tax Notes International | OP 138-Bis/2024/114/10 Tax Notes International | OP 138-Bis/2024/114/10-1 Spotlight on global minimum taxes shifts to individuals | OP 138-Bis/2024/114/10-2 Should we breathe new life into the passthrough deduction? | OP 138-Bis/2024/114/10-3 Unfair allocation of taxing rights on intangibles creates digital divide | OP 138-Bis/2024/114/10-4 ‘Good faith’ in tax treaties |
Progressive tax advocates are fresh off the twin victories of countries’ formal adoption of a global corporate minimum tax and the promise that the U.N. will be taking on a larger role in multilateral tax policy coordination. Rather than resting on their laurels, activists are building momentum for the next initiative, a global minimum tax on billionaires. Brazil, which holds the G20 presidency, has made a global wealth tax a key plank of its agenda. But the Biden administration — which has been a strong supporter of a global corporate minimum tax — is opposed. How might the political successes of the global corporate minimum tax be translatable to a global minimum tax on individuals’ wealth? Could the design of a global wealth tax draw from a corporate minimum tax to result in successful implementation?
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