The Taxation Of Wealth For Eradication Of Poverty And Inequality

Policy Brief 2024 Zimbali Mncube, Diana Mochoge

This policy brief will discuss how tax policy can contribute to a just and sustainable planet as per the G20 theme in 2024. The brief discusses how tax policy and in particular taxing wealth can support domestic resource mobilisation. The paper discusses tax instruments such as Financial Transaction Taxes (FTTs) and net wealth taxes and their revenue potential and economic impacts. As stated in the International Human Rights framework, these tax instruments are one of the interventions required to reform the macroeconomic framework to target inequality, unemployment, and poverty. The recommendations flowing from the paper align with SDG 1 on eradicating poverty and SDG 10 on reducing inequalities. The G20 provides a critical platform for world leaders to continue discussing resource mobilisation efforts towards SDGs 1 and 10.