The wealth tax in Spain has progressive rates between 0.2% and 2.5%, and is levied on assets worth over 700,000 euros. The tax revenue represents around 0.2% of Spain's Gross Domestic Product (GDP).
Norway
In force at a rate of 0.85% on assets above 1.5 million Norwegian kroner (around 135 thousand euros), the tax corresponds to 0.4% of Norwegian GDP.
Switzerland
The wealth tax ranges from 0.3% to 1% of net wealth, with rates depending ukraine mobile database on the canton. On average, the IGF tax revenue amounts to 1.1% of Swiss GDP.
Other countries, such as France, Germany, Austria, Denmark, Finland, Iceland, Luxembourg, the Netherlands and Sweden , have already imposed a wealth tax, but have since repealed it. Reasons for ending the tax include low revenue, high administrative costs and increased tax evasion. France, for example, abolished the IGF in 2017 after realizing that the tax encouraged large investors to leave and use tax havens.
In South America, Argentina implemented an extraordinary wealth tax in 2020 in response to the crisis caused by the COVID-19 pandemic. This tax was levied on assets worth more than US$3 million, seeking to finance health policies and economic recovery.
The application of a tax on large fortunes in Brazil continues to be a topic of debate and divides public opinion . On the one hand, there are supporters who believe that the IGF can help balance income distribution and promote tax justice. On the other, critics warn of administrative difficulties and the risk of capital flight, which could compromise the effectiveness of the tax and the country's economic stability.
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Even with the recent rejection of the IGF by the Chamber of Deputies, the discussion remains relevant. The debate on the tax on large fortunes is part of a broader scenario of tax reform , which seeks to modernize and simplify the Brazilian system.
Although there are still doubts about the viability and effectiveness of the IGF in Brazil, it is undeniable that the topic will continue to be on the agenda in the coming years, especially given the pressure for a more progressive tax system.
Monitoring the future of taxation with Inteligov
For those who want to understand every step of the discussions on the tax on large fortunes in Brazil, Inteligov offers an agile and practical way to stay informed. With the platform, it is possible to follow in real time the progress of relevant proposals and legislative changes, receiving alerts about movements in bills and amendments related to the topic.