Efforts to reform the global tax system have taken centre stage this week at the United Nations’ 4th International Conference on Financing for Development in Sevilla, where Spain and Brazil jointly unveiled a bold proposal targeting tax justice and inequality.
Spain’s Secretary of State for Finance, Jesús Gascón, said, “Inequality is a problem everywhere, and the richest pay less than the middle class – even less than lower-income taxpayers.” He added, “Our countries need more and more public revenues to meet their needs.”
The proposal underlines a growing concern shared by governments and international organisations: that the global tax system disproportionately benefits the ultra-wealthy, enabling them to contribute less to public finances than ordinary citizens due to lower effective tax rates and widespread use of loopholes.
The Spanish and Brazilian governments are calling on nations around the world to unite in reshaping international tax norms to make them more progressive. Their initiative aligns with what they call a “moderate” approach to confronting “a very radical reality,” as described by Brazil’s Minister-Counsellor to the UN, José Gilberto Scandiucci.
According to the officials, the disparity is evident in wealth ownership. The top 1% of the global population holds more than 95% of global wealth. This imbalance, they argue, is no longer sustainable and demands urgent, coordinated action.
A central feature of the proposal is the prioritisation of information sharing among governments and tax administrations. By improving the quality of data and strengthening national capacities for analysis, countries will be better equipped to detect where wealth is concentrated, how much tax is being paid, and where the system is failing.
“There’s a real need to know who the beneficial owners are behind companies and legal structures used to conceal wealth,” Gascón emphasized. The joint plan includes technical cooperation, training in data analytics, and peer review frameworks to bolster tax systems, particularly in developing economies.
Transparency Key To Tax Justice
As part of the longer-term vision, both Spain and Brazil are also considering laying the groundwork for a global wealth registry. Though officials acknowledge that such an initiative would require immense political will and national-level effort, they see it as a necessary step toward transparency and accountability.
This push is encapsulated in the broader Seville Platform for Action, a collection of voluntary commitments aimed at accelerating progress toward the Sustainable Development Goals (SDGs). With just five years remaining until the 2030 deadline, the majority of the SDG targets remain far behind schedule.
The proposed tax reforms build on momentum from the 2024 G20 summit in Rio de Janeiro, where industrialised nations reached a historic agreement to launch a unified tax agenda focused specifically on high-net-worth individuals. That agreement marked the first international recognition of the need to address tax gaps among the super-rich.
Following that agreement, a three-month work plan is being developed to implement concrete actions, with regular meetings scheduled to monitor advancement. The goal is to engage more countries, international organisations, and civil society in a global movement toward fair taxation.
Gascón stressed the importance of collective action and determination, saying, “If we want to effectively tax the super-rich, fight inequality and make our tax systems fairer and more progressive, we need political will – and we need to act within our means.”
Scandiucci was quick to counter any criticism, framing the proposal as radical. “This is a moderate initiative to confront a very radical reality,” he said, reiterating that reducing inequality is not ideological, but essential.
With rising public concern over wealth concentration and the fiscal burden on ordinary citizens, the spotlight on Sevilla may signal a new era in global financial governance — one in which the richest are finally expected to pay their fair share.
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