WASHINGTON (AFP) – The international community must do more to make the world’s richest companies and individuals pay their “fair” share of taxes, Brazil and France’s finance ministers said on Wednesday.
Brazil, which is chairing the G20 this year, has been pushing for the group of nations which together account for 80 per cent of the world’s economy to adopt a shared stance on preventing tax-dodging by billionaires by the summer.
“Fair international taxation is not just a topic of choice for progressive economists, but a key concern at the very heart of macroeconomic management today,” Brazilian Finance Minister Fernando Haddad said during an International Monetary Fund (IMF) event in Washington, United States.
“Without international cooperation, there is a limit to what states can do, both rich and developing ones,” he added.
Haddad called on countries to “enhance revenue mobilisation through fair, transparent, efficient and more progressive tax systems” to make the system “fairer”.
Sitting alongside Haddad at the IMF event in Washington, French Finance Minister Bruno Le Maire renewed his calls for a global minimum tax – and backed calls for a crackdown on tax avoidance.
