The G20 Has Not Agreed on Taxing the Super Rich

Holiday Ayo - Finance Minister Sri Mulyani Indrawati said the G20 had not yet reached an agreement regarding the implementation of taxes on the super rich.
Previously, Brazil, led by President Luiz Inacio Lula, initiated the idea of a 2% wealth tax targeting the world's billionaires.
According to him, in this series of the G20 Presidency, International Tax in the Global Taxation Agreement has indeed become a topic of discussion.
The aim is to prevent tax avoidance between countries by taxpayers.
“Brazil raised a new proposal for discussion, namely taxation of the super rich, which is very difficult to implement, which causes erosion of acceptance and social jealousy. The G20 still has not agreed on steps regarding this matter," he said via an Instagram upload, Saturday (27/7).
In this meeting, the ministers of finance and central bank governors also discussed the Fed's longer policy of high interest rates, causing capital outflow and currency depreciation pressure, as well as an increase in interest costs almost throughout the world.
"This results in pressure and complexity in fiscal and monetary policies in many countries between maintaining stability and encouraging growth and employment opportunities," he added.
Another discussion that is no less important is the Financial Sector and Financial Inclusion. Such as the risk due to innovation in financial instruments in digital technology such as crypto, stable coins and Central Bank Digital Currency on the stability of the payment system and the financial sector.
Apart from that, Brazil as host of the G20 Presidency also raised the issue of Climate Change Financing including saving Tropical Forests and the issue of the threat of World Hunger and the importance of Food Security.
“In the midst of geopolitical tensions and economic fragmentation, Indonesia supports the spirit of global cooperation and the role of the G20 forum and multilateral institutions to continue to increase collaboration so that we can overcome world problems together," he concluded.








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