As Countries Advance Fiscal Cooperation, Higher Taxes Could Come Crypto's Way - Davos - Aliens: AI Crypto News & Markets Updates
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As Countries Advance Fiscal Cooperation, Higher Taxes Could Come Crypto's Way - Davos

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Cryptonews

Tue, May 24, 2022

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Developed countries from across the world are moving towards increased fiscal cooperation that could lead to tighter taxation of corporations but also of personal assets under the so-called wealth tax, as indicated by the participants of a panel held during this year’s edition of the World Economic Forum in Davos.

“I do think that this global tax agreement is in the spirit of taxing capital better,” she said, adding that increased fiscal cooperation between various countries “is really critical to allow better enforcement.” Gabriela Bucher, Executive Director at non-governmental organization Oxfam International, said that there is a need for a global asset registry that would be transparent, allowing the wealth of individuals across the world to be taxed.

There is a group of countries that tax individual assets, but in 2017, only 4% of the total collected taxes were generated by wealth taxation, she said.

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