UK group calls for one-time wealth tax as ultrawealthy taxes grow - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

South Africa News News

A group of UK experts is pushing for a one-time wealth tax, and one-off taxes on the ultrawealthy have already become law elsewhere

Karol Serewis/SOPA Images/LightRocket via Getty Images

The UK Wealth Tax Commission is calling for a one-off tax on the wealthy to help with coronavirus recovery. The experts behind the report say the proposed measure could raise 260 billion pounds — or around $348 billion.Argentina has already voted to tax the super-rich to help offset pandemic costs.One-off taxes on the wealthy — with the money going towards coronavirus costs — are gaining more traction.. It will only apply the top 0.8% of the population, who have assets over 200 million pesos — just around 12,000 people. The government hopes to bring in $3.3 billion with the measure..

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Reset the Monopoly board.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines