Friday, 10th October 2025

G20 Finance Ministers Propose Additional Taxation for the Super-Rich

Finance leaders from the G20 have issued their first-ever joint declaration, pledging to collaborate on effective taxation of the world's wealthiest individuals

The finance ministers and central bank representatives of the Group of 20 have committed to fair taxation of “ultra-high net worth individuals,” as detailed in a joint statement and a separate declaration on international tax cooperation.

Presided over by Brazil’s Finance Minister, Fernando Haddad, the meeting saw ministers commit to a “socially fairer and more environmentally sustainable future.” Haddad remarked on the sidelines of the summit that “the fight against hunger, poverty, inequality, and the taxation of the richest is finally on the global economic agenda,” despite the joint statement not specifying an agreement on a concrete global tax.

The declaration assures that this new stance will not infringe upon the fiscal sovereignty of individual nations

However, the United States and Germany have expressed some reservations about the plan. A European official, speaking anonymously to Reuters, acknowledged the challenge ahead, noting that pushing this initiative forward “won’t be easy at all.”

This development signals a significant shift in the global economic discourse, placing social justice and sustainability at the forefront of the agenda. As the world grapples with rising inequality and environmental challenges, the G20’s commitment to taxing the super-rich could herald a new era of economic policy aimed at fostering greater equity and sustainability.

Have a news tip or story to share? Email us at info@connectingregion.com

Photo source Audiovisual/G20

Zuckerberg Predicts Mobile Phones Will Disappear by 2030

TThis is inevitable as new technologies like augmented reality (AR) glasses and virtual reality (VR) devices reshape how people...

ProCredit Launches ProConnect Platform

The platform is the first of its kind in the region, offering firms the ability to present their products...

Switzerland Tops Global Innovation Ranking, China Enters Top 10

China has entered the top 10 for the first time, taking the 10th spot and replacing Germany, which fell...

Meta, Google, Microsoft Pay Top AI Experts Up to $300K

Meta, Google, and Microsoft offer top researchers up to $300,000 annually—and up to $1.5M over four years. Meta recently...

World First: Albania Elevates AI to Ministerial Rank

In a world first, Albania has appointed an artificial intelligence system to ministerial rank. Prime Minister Edi Rama announced...
spot_img

Connecting the Adria Region Decision Makers

The Region is more than a publication - it's where the region's elite converge for insights and opportunities