G20 finance ministers agree to work toward effectively taxing the super-rich

Brazilian Economy Minister Fernando Haddad attends a press conference to review the G20 Finance Ministers and Central Bank Governors Meeting, in Rio de Janeiro, Brazil, Friday, July 26, 2024. Brazilian Economy Minister Fernando Haddad attends a press conference to review the G20 Finance Ministers and Central Bank Governors Meeting, in Rio de Janeiro, Brazil, Friday, July 26, 2024.

Brazil has made a proposal to impose a 2% minimum tax on billionaires a top priority of its presidency of the Group of 20, ahead of the Nov. 18-19 summit in Rio. “We were always optimistic about this result, but it really exceeded our initial expectations,” Haddad told reporters.

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