What can the G20 do to support tax systems for just and resilient societies?

Just and resilient societies depend on an adequate public funding base to provide important public goods, such as health care and education. The COVID-19 pandemic crisis has put a stark spotlight on this: Strong public health systems are an important pre-requisite for successfully dealing with the medical consequences of the pandemic, and fiscal stimulus packages will play an important role in stabilising economies.

However, in recent years there has been an erosion of the public funding base in many countries, as the globalisation and digitalisation of value creation was accompanied by profit shifting and tax avoidance. What can the G20 do to support tax systems for just and resilient societies? Will the OECD led initiative on Base Erosion and Profit Shifting come to a successful conclusion in 2020, as envisaged by G20 leaders? How can progressive wealth taxes contribute to more equitable societies?

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Keynotes

Global minimum taxation and the international solution for taxation of the digital economy

Keynote

Keynote

Olaf Scholz

German Vice-Chancellor & Federal Minister of Finance

Dr. Berat Albayrak 

Turkish Minister of Treasury and Finance

Friedrich-Ebert-Stiftung Panel

Fighting inequality through progressive taxation

Global income and wealth inequality have increased dramatically in the last decade. Public money for acutely needed action on social and environmental problems is missing. The excessive wealth concentration erodes our societies’ social contracts and challenges the independence of democratic institutions. Calls for progressive taxation are getting louder to make the rich pay their fair share. But even in states with a progressive income tax, billionaires may pay very little taxes because they channel their assets in ways that reduces their taxable income. How could this be avoided? Would a progressive wealth tax solve the problem? How would it lead to a redistribution of wealth to middle class and lower income groups? How could it help to fund a social-ecological transformation? What measures against tax evasion and tax avoidance are necessary to ensure that rich individuals or Multinational Corporations do not hide their money in assets that are subject to tax exemptions, tax havens or in foreign financial institutions? How does the ongoing reform process of the international tax system reflect on these questions?

Norbert Walter-Borjans

Party Chairman, Social Democratic Party of Germany (SPD)

Jayati Ghosh

ICRICT, India

Chidi King

International Trade Union Confederation 

Wayne Swan

Australian Labor Party

Moderator: Carolin Roth

CNBC

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Policy Recommendations, Policy Briefs and Articles

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Policy Briefs contain recommendations and visions and cover policy ares that are of interest to G20 policymakers. The majority of the Policy Briefs has been developed by a corresponding T20 Task Force.

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SODIQ KAREEM Zumratul Islamiyah School

Due to the increasing scale of human leaf infection with coronavirus SARS-Cov-2 causing COVID-19 disease, the multi-faceted impact of epidemic development on the economy, including the situation on financial markets, is increasing. In this regard, I propose a discussion on the following topic: Impact of coronavirus on economics, including economic growth rate and financial markets. Over the past two weeks (end of February / beginning of March 2020), the scale of sharp decreases in the valuation of securities shares on the stock exchanges and a fall in the price for a barrel of oil acquires the characteristics of a stock… Read more »

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