Spanish minister calls for global minimum tax on billionaires, aiming to raise $250B annually.

Spain's Minister of Economy, Carlos Cuerpo, is calling on wealthy nations to implement a global minimum tax on billionaires, citing citizen demand for wealth redistribution. The proposal aims to collect an estimated $250 billion annually by ensuring billionaires pay at least 2% tax on their assets. Brazil, along with France, Germany, and South Africa, supports the initiative and plans to push for negotiations at next year's COP climate summit.

November 18, 2024
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