On Tuesday, Spain and Brazil will launch a joint initiative to promote a global tax increase on the superrich, aiming to achieve a fairer redistribution of wealth.
The initiative, to be presented at the fourth U.N. International Conference on Financing for Development in Seville, seeks to encourage a multilateral debate on the effective taxation of large fortunes and how it impacts social cohesion.
The project aims to tackle the issue of extreme inequality and move toward a fairer redistribution of wealth “through a progressive and just tax system in which those who have more, pay more,” Spain’s Finance Ministry said.
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