Key Points
(Bloomberg) -- The worlds leading finance chiefs are set to shelve Brazils controversial plan to create a global tax on billionaires, including only a vague mention of the idea in a draft communique from this weeks meeting in Rio de Janeiro...
The draft communique, which was obtained by Bloomberg News, lacks any commitments to continue exploring a 2% minimum tax on the worlds wealthiest individuals, a plan Brazil President Luiz Inacio Lula da Silva placed at the heart of his countrys year as the Group of 20s leader...
Instead, they said only that they will continue to work together towards a fairer, more stable and efficient international tax system fit for the 21st century...
Amid those disagreements, the finance ministers entered this weeks gathering in Rio poised to punt the plan into the future by calling for studies on taxation and inequality that could take years, as Bloomberg News reported Wednesday...
The group is also set to issue a separate statement on international tax policy cooperation, Tatiana Rosito, the secretary for international affairs at Brazils finance ministry, told reporters Thursday...
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