In a pivotal moment at a panel discussion in Washington DC, German Finance Minister Christian Lindner firmly dismissed Brazil’s ambitious proposal to levy taxes on the super-rich. Lindner emphasized the adequacy of Germany’s existing income taxation framework, indicating his skepticism towards Brazil’s initiative. The proposal, driven by Brazil’s leadership of the G20, seeks to garner international consensus on wealth taxation, with plans for a joint declaration at the upcoming G20 finance ministers and central bankers meeting in July.
While Lindner stands unconvinced, his French counterpart Bruno Le Maire has lent support to the proposal. Le Maire, asserting that taxing the affluent is a natural progression from prior global taxation reforms, suggested that the G20 should target a consensus on wealth taxation by 2027. This divergence of opinions between Germany and France sets the stage for intense deliberations within the G20 regarding the taxation of wealth on a global scale.
