Deal on Brazil plan to tax super-rich off the table at G20, German sources say

reuters_tickers

By Maria Martinez

BERLIN (Reuters) – An agreement on Brazil’s proposal to tax the super-rich remains off the table as officials from the Group of Twenty (G20) countries meet in Rio de Janeiro this week, German finance ministry sources said on Tuesday.

Brazil, heading the presidency of the Group of Twenty (G20), is aiming to build international consensus on the taxation of wealth this year, and was pushing for a joint declaration at the meeting of G20 finance ministers and central bankers.

There will be no concrete discussions at the meetings in Brazil on Thursday and Friday and the plans are “not even close to consensus,” a source said.

Other ideas are being discussed, such how to prevent wealth concealment, how to combat tax avoidance and how to create more transparency, the sources said.

There will be a document focusing only on financial issues.

Due to the differing positions on the conflicts in Ukraine and the Middle East, the views of countries on these topics will only be summarized in a separate paper by the Brazilian hosts.