Wealth tax

Britain tries to fix its frayed relations with world’s rich

TECH billionaires, the owners of Premier League football teams and heirs to some of Europe’s oldest fortunes all recently left the UK because of higher taxes. Now, Britain’s finance minister is quietl...

The COP29 gathering in Baku ended with developed nations agreeing to provide US$300 billion annually in climate finance to poorer countries by 2035, a figure criticised as way below what is needed to meet the challenge.

World has tools to unlock US$1.3 trillion in climate finance: COP30 report

The upcoming gathering aims to turn vague targets into concrete proposals

Between 2000 and 2024, one per cent of the world’s population captured 41 per cent of all new wealth, of which just one per cent went to the poorest 50 per cent, a report said.

‘Inequality crisis’ threatens democracy, experts warn G20

WEALTH inequality is a global emergency that threatens democracy and social cohesion, experts warned on Tuesday, urging G20 leaders meeting in South Africa this month to establish a panel to tackle th...

Elon Musk (above), judged the world’s richest person in April 2025, has an estimated net worth of US$342 billion. Globally, the average wealth of the top 0.0001% of the population grew on average 7.1% a year between 1987 and 2024, compared to 3.2% for the average adult, according to Gabriel Zucman of the Paris School of Economics and UC Berkeley.
THE BROAD VIEW

The problem with taxing the rich

Fiscal systems designed around income and consumption struggle to capture wealth, and billionaires are highly mobile

Some 82% of UK millionaires surveyed said they would be interested in investing in a so-called golden visa or Citizenship by Investment programme abroad.

UK wealth tax would spur millionaire exits to US: survey

The US tops the rankings among wealthy Britons for potential relocation, followed by Canada, Australia and the United Arab Emirates

The departures underscore the growing unease among many of Britain’s richest residents over changes to taxation ranging from private equity investments to inheritances and capital gains.

Mega-rich baby boomers quit UK in wealth exodus over tax

Inheritance tax is the dealbreaker that is driving people away

France’s economy minister Eric Lombard said the measure would be part of efforts to find 40 billion euros (S$60 billion) next year, mainly from savings, to bring the public deficit to 4.6 per cent of GDP in 2026.

France wants to make one-off wealth tax permanent

[PARIS] France’s economy minister said on Sunday (Apr 13) that he wants to make a temporary tax on the wealthy into a permanent levy to make government financing “more equitable”.

Under pressure from African countries, the UN General Assembly in 2023 moved to proceed toward a framework convention.

UN begins talks toward ‘fair’ tax accord

UNITED Nations member states launched formal negotiations on Monday on an international tax accord, aiming to create a “fair” system that addresses evasion by the super-wealthy and multinational busin...

Higher property taxes can impose undue financial and emotional burdens on asset-rich but cash-poor retirees, says the writer.
LETTER TO THE EDITOR

Property tax should not be conflated with wealth tax

I READ with great interest Leslie Yee’s commentary “Don’t spare asset-rich, cash-poor private homeowners from paying higher property taxes” (BT, Jan 13), but I must respectfully disagree with his opin...

Some are waiting to see if Donald Trump wins the US election on Nov 5 and Republicans can wrest control of Congress, which they hope will increase the chance of extending the higher lifetime exemption he signed into law as president

Post-election tax cliff spurs US rich to prep huge wealth transfer

Wealthy Americans worried about who will win the White House are preparing to accelerate a huge transfer of wealth to their heirs by using large estate-tax breaks set to expire at the end of next year...