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G20 finance ministers agree to work toward effectively taxing the super-rich

  • Finance Ministers from leading rich and developing nations agreed to strive toward effectively taxing the super-rich, as stated in their joint declaration from Rio de Janeiro.
  • Brazil proposed a 2% minimum tax on billionaires as a key focus for its G20 presidency ahead of the summit.
  • Fernando Haddad called the outcome a "significant step forward," despite no specific global tax agreement being reached.
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