Video: Learn how the super-rich are taxed in other countries

The debate over taxing the super-rich isn't unique to Brazil . Globally, the wealth of the richest continues to grow, while their proportional tax contribution is often lower than that of the majority of the population.

Advocates for taxing large fortunes argue that revenue could be crucial to combating poverty and funding initiatives to combat global warming.

One of the most common approaches adopted by several countries is to increase income tax (IR) for higher-income brackets. The higher the income, the higher the rate. For example, in Germany, the maximum IR rate is 45%, one of the highest globally. China, France, and Japan also apply rates of up to 45% on the highest incomes. In Brazil, the highest IR rate for individuals is 27.5%.

However, many of the super-rich rely not on salaries, but rather on corporate profits and dividends. One solution under discussion is the implementation of a minimum income tax for the super-rich, regardless of their source of income.

This is precisely the thrust of a bill submitted by President Lula to Congress. The proposal establishes a minimum tax rate for those earning more than R$50,000 per month, including dividends and interest, which can rise to 10% for annual incomes above R$1.2 million.

In addition to income tax, some countries also levy a tax on the wealth of the super-rich. Norway, for example, charges a 1% tax rate on the largest fortunes. Colombia, Spain, and Switzerland are other examples with similar taxes.

Last year, Brazil submitted to the G20 a proposal to establish a 2% annual tax on assets exceeding $1 billion. It's worth noting that the Brazilian Constitution already provides for the creation of a tax on large fortunes, although it has never been regulated or implemented. The discussion about how to balance the fiscal and social balances remains at the center of the global economic debate.20