The finance ministers of Spain and Brazil, Arcadi España and Dario Durigan, held a meeting this Saturday, parallel to the progressive summit and the summit in defense of democracy held in Barcelona, to boost an initiative that both countries already agreed upon last July in Seville: The launch of an international coalition to tax the super-rich with a specific tax to address inequality and wealth concentration.
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One of the ideologues and defenders of this tax, Gabriel Zucman, director of the International Tax Observatory in Paris and former Berkeley academic, who also participated in the conferences held by the Socialist International for two days, joined the meeting, which took place at the Government delegation in Catalonia, in the Catalan capital.
The French economist presented his proposal to the two leaders for a minimum taxation of the super-rich of at least 2% annually on their wealth, starting from fortunes of 1 billion dollars.
From the meeting emerged the commitment to sign a document to promote reforms in that direction in both countries, as well as the exchange of knowledge, research, and experiences. Furthermore, a strategy has been outlined to incorporate other countries into the aforementioned coalition. L
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The Spanish Government already formed a working group with the aim of studying this tax and with the signing of a memorandum between the Secretary of State for Finance and the International Tax Observatory directed by Zucman. From the Ministry of Consumer Affairs, led by Pablo Bustinduy, some initiative has also been launched with the same objective. However, as of today, there is no translation of all this into the Spanish legal corpus or fiscal regulation.
The idea for this tax comes from the G20 leaders’ summit held in 2024 in Rio de Janeiro, when it was agreed to cooperate to create an effective tax agenda for high-net-worth individuals.
