Governments should open a new front in the international clampdown on tax evasion with a global minimum tax on billionaires, which could raise $250 billion annually, the EU Tax Observatory said on Monday.

cross-posted from: https://lemmy.ca/post/7812500

PARIS, Oct 23 (Reuters) - Governments should open a new front in the international clampdown on tax evasion with a global minimum tax on billionaires, which could raise $250 billion annually, the EU Tax Observatory said on Monday.

If levied, the sum would be equivalent to only 2% of the nearly $13 trillion in wealth owned by the 2,700 billionaires globally, the research group hosted at the Paris School of Economics said.

  • edricEnglish
    7•1 year ago

    What if the IRS waits for these big companies to release their annual earnings report boasting about their profits, then tax 15% of whatever amount they state in that report?

    • BraveSirZaphod
      7•1 year ago

      Corporate taxes already exist. It’s 21% at the federal level, with some additional state taxes.

      The profit number that’s reported to investors already is taxed.

      So I guess you’re happy now?