Debate: The Global Wealth Tax And Developing Countries
Edmund Valpy FitzGerald et al.
What the paper says
The growing international consensus on the need to tax ‘global billionaires’ in a socially acceptable manner has centred on a potential minimum tax on the consolidated wealth of these Ultra High Net Worth Individuals (UHNWIs). Such an initiative could both compensate for the practical difficulties of effective income (and capital gains) taxation at the national level due to financial mobility; and generate new fiscal resources for public goods such as health, education and environment. However, the implications for the ‘global south’ are still unclear and deserve further analysis. This article addresses three fundamental issues: the allocation of taxing rights, cooperation between tax authorities and the process of international fiscal negotiation. All three require clarification as to an appropriate common position for developing countries and we present concrete proposals for how to make progress on all three. The recently launched initiative on ‘Enforcing Effective Taxation of High-Net-Worth Individuals. Taxing the Super-rich’ under the 2025 Sevilla Platform for Action (SPA) at the fourth Financing For Development International Conference, can provide an effective means for participating countries to collaborate, coordinate and advance solutions to ensure that high net worth individuals pay their fair share.
Evidence weight
Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40
| F · citation impact | 0.50 × 0.4 = 0.20 |
| M · momentum | 0.50 × 0.15 = 0.07 |
| V · venue signal | 0.50 × 0.05 = 0.03 |
| R · text relevance † | 0.50 × 0.4 = 0.20 |
† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.