Report: World's richest 1% increased fortunes by Rs 35164227 crore in past decade, Urges to tax...Oxfam reports the world's richest one percent gained $42 trillion in the past decade as taxes on their wealth hit historic lows, urging G20 nations to impose higher taxes. Oxfam reported on Thursday that the world’s richest one percent have increased their wealth by a staggering $42 trillion over the past decade. This announcement comes just before the G20 summit in Brazil, where the primary agenda item is taxing the super-rich. The initiative includes developing methods to tax billionaires and other high-income earners effectively. Despite this enormous wealth, billionaires are paying an effective tax rate of less than 0.5 percent of their wealth globally, the NGO noted.

Source: dna July 26, 2024 17:37 UTC