"People are fed up with billionaires' greed eroding the environment and communities we depend on," said one supporter of the new initiative. "It's time for world leaders to listen and act."
As described in an announcement by the Spanish government, the initiative aims to create coordination between governments on the taxation of high-net-worth individuals to ensure they are not shuffling money abroad to avoid proper taxation.
I would like to point out that billionaires have to have an incentive to stay in one country, if their wealth is going to be taxed in that country. I.e., billionaires can only do business in a country that they pay their fair share of taxes in.
That’s very good news.
I would like to point out that billionaires have to have an incentive to stay in one country, if their wealth is going to be taxed in that country. I.e., billionaires can only do business in a country that they pay their fair share of taxes in.