EU proposes ‘global billionaire tax’ ...News

Russia Today - Economy
EU proposes ‘global billionaire tax’
source : Russia Today ( News ) () 26
The measure could reportedly help raise $250 billion a year, according to a research group Governments should create a global minimum tax on the wealth of the super-rich who are using shell companies to funnel dividends and own property, the EU Tax Observatory research group has said. According to its report on Sunday, a 2% levy on the wealth of the world’s 2,750 billionaires could raise some €236 billion ($250 billion) a year. Right now, billionaires are using loopholes to avoid certain forms of income tax, resulting in effective tax rates of just 0%-0.6% of their total wealth, the Paris-based tax watchdog claime

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