Millionaires group calls for wealth tax

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In most countries, aside from a handful in Europe and some recent joiners in South America, the rich do not have to pay annual taxes on assets such as real estate, stocks or artwork because they are taxed only when the asset is sold .Photo: iStock
In most countries, aside from a handful in Europe and some recent joiners in South America, the rich do not have to pay annual taxes on assets such as real estate, stocks or artwork because they are taxed only when the asset is sold .Photo: iStock

BUSINESS

The group, calling itself the Patriotic Millionaires, said that the ultrawealthy were not being forced to pay their share for the global economic recovery from the pandemic.

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