A proposal that targets less than 0.001% of the population could unlock up to $24 billion per year in Latin America, and the detail behind this calculation is noteworthy.

Written by Caio Aviz

Published on 16/04/2026 at 01:37

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Minimum tax proposal on extreme wealth gains strength in Latin America

A study released on May 14, 2024, as reported by AFP, indicates that the implementation of the so-called “Zucman tax” in Latin America is considered feasible.

The survey indicates that seven countries in the region could raise about US$ 24 billion annually, equivalent to R$ 123.89 billion.

The measure would affect only about 3,000 individuals, within a population of approximately 500 million inhabitants.

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How the minimum tax on extreme wealth would work

The report, based on data from the International Fiscal Observatory, proposes a tax of 2% on assets above US$ 100 million.

A broader alternative proposes a rate of 3%, raising revenue to US$ 36 billion per year.

The study, commissioned by Brazil, aims to correct distortions in the tax system.

The proposal intends to ensure that the super-rich contribute proportionally to their economic capacity.

Inequality and tax burden at the top of income

The study points out that the richest 1% pays proportionally less taxes than the poorest 50%.

The analysis conducted by Vicente Silva, an inequality specialist, identifies this regressivity in countries like Brazil and Chile.

The effective rates paid by the super-rich are almost half of the average for the population.

The wealth of fortunes above US$ 1 billion has increased six times in the last 25 years, intensifying the debate on taxation.

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G20 and the global Zucman tax proposal

The topic gained international prominence in 2024, during Brazil’s presidency of the G20.

The French economist Gabriel Zucman, associated with the International Fiscal Observatory, presented a global proposal.

The initiative involves a tax of 2% on assets over US$ 1 billion, with a potential revenue of US$ 200 billion to US$ 250 billion annually.

At the summit held in Rio de Janeiro in 2024, G20 countries committed to act in a cooperative manner in taxing large fortunes.

Economic impact and return on wealth

Large fortunes record average returns of 8% per year, according to Zucman.

The implementation of a 2% tax would have a limited impact, only partially reducing these gains.

The measure would not significantly compromise the wealth of the richest.

Still, it could generate relevant revenue to face fiscal challenges.

Political challenges and resistance to the proposal

The implementation of the tax faces political resistance and strong polarization, as highlighted by Vicente Silva.

There is technical capacity to implement the measure, but there is a lack of political will.

Consolidated narratives, such as the idea that reducing taxes for the wealthy stimulates growth, hinder the advancement of the proposal.

A study from the London School of Economics indicates that there is no evidence, in the last 50 years, that tax cuts for high incomes boost the economy.

Risk of tax evasion and capital flight

The risk of mass tax exodus is considered low, according to Silva.

High-net-worth individuals maintain businesses, networks, and economic interests in their countries.

The proposed model includes exit mechanisms, which reduce possible impacts of changing tax residence.

The so-called tax competition is treated as a political issue, which can be addressed with appropriate instruments.

Is Latin America ready to advance in taxing the super-rich, or will the debate remain stalled by political and economic barriers?

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A proposal that targets less than 0.001% of the population could unlock up to $24 billion per year in Latin America, and the detail behind this calculation is noteworthy.

Minimum tax proposal on extreme wealth gains strength in Latin America

How the minimum tax on extreme wealth would work

Inequality and tax burden at the top of income

G20 and the global Zucman tax proposal

Economic impact and return on wealth

Political challenges and resistance to the proposal

Risk of tax evasion and capital flight

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A proposal that targets less than 0.001% of the population could unlock up to $24 billion per year in Latin America, and the detail behind this calculation is noteworthy.

Minimum tax proposal on extreme wealth gains strength in Latin America

How the minimum tax on extreme wealth would work

Inequality and tax burden at the top of income

G20 and the global Zucman tax proposal

Economic impact and return on wealth

Political challenges and resistance to the proposal

Risk of tax evasion and capital flight

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

Bavarian archaeologists unearthed a medieval skeleton that had an articulated iron hand in place of its left arm, and the discovery reveals that doctors were already creating sophisticated prosthetics over 500 years ago.

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