G20 finance ministers discuss global tax on super-rich

RIO DE JANEIRO, Brazil: Finance ministers from major economies, both rich and developing, convened in Rio de Janeiro to discuss a global tax on the super-rich, a key initiative for Brazil, currently holding the G20 presidency.

The proposal would require individuals with assets exceeding US$1 billion to pay an annual tax equivalent to two percent of their wealth.

Brazil's Finance Minister Fernando Haddad