Spain and Brazil Launch Joint Initiative to Push Global Tax on the Ultra-Rich
Protests against the environmental crisis caused by capitalism, June 29, 2025, Seville, Spain. X/ @rpdnetwork
July 1, 2025 Hour: 10:54 am
They propose analyzing administrative and data shortcomings to ensure that individuals with high net worths pay more efficiently.
On Tuesday, Spain and Brazil will launch a joint initiative to promote a global tax increase on the superrich, aiming to achieve a fairer redistribution of wealth.
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The initiative, to be presented at the fourth U.N. International Conference on Financing for Development in Seville, seeks to encourage a multilateral debate on the effective taxation of large fortunes and how it impacts social cohesion.
The project aims to tackle the issue of extreme inequality and move toward a fairer redistribution of wealth “through a progressive and just tax system in which those who have more, pay more,” Spain’s Finance Ministry said.
Specifically, the Brazilian-Spanish initiative proposes analyzing political, administrative and data shortcomings — including the concentration of wealth by country and effective taxation — to ensure that individuals with high net worths pay more efficiently, which will also require greater international cooperation.
Spain and Brazil have set a three-month deadline to develop a roadmap that will bring additional countries on board. The initiative is open to civil society, as well as international institutions and organizations.
Carlos Garcia Paret, political advocacy coordinator for Greenpeace, welcomed the announcement by Spain and Brazil. “In the face of the climate and inequality crisis, we urgently need resources to fund the present and future well-being of society — not lavish weddings or extravagant space trips like the ones we keep seeing on TV,” he said.
On Sunday, during a civil society demonstration for global economic justice held in Seville ahead of the U.N. summit, Greenpeace paraded a 13-foot effigy depicting a baby Elon Musk sitting atop planet Earth holding a chainsaw.
Under the slogan “Our Planet Is Not Your Business,” the environmental group aims to highlight the behavior of “superrich individuals who, in addition to polluting with their jets and yachts, receive tax breaks, buy democracies and push for cuts to basic citizen rights.”
“There is money for social welfare and climate action, and it must be found in the right place: by ending fossil fuel subsidies, eliminating tax gifts for the ultrarich, shutting down tax havens and halting the insane arms race,” Paret stated.
teleSUR/ JF
Source: EFE
