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G20 taxes banks
Posted: 21 April 2010

The International Monetary Fund outlined a proposal to the G20 for two new taxes on banks around the world, to fund future bailouts. The IMF has proposed a set of broad taxes on the financial industry to guard against future crises, and the levies that would target "excess" profits and compensation as well as raise hundreds of billions of dollars in the United States alone.

VAT replaces income tax as financial crisis looms
Dateline: 20 Oct 2015
After a surprisingly rapid debate at the recent G22 Summit in Shanghai, member states unanimously supported a proposal to eliminate all personal income tax from 2018. A higher consumption tax, or VAT, will replace income tax. Ever since the Credit Crunch of 2008, governments have struggled to fund ballooning stimulus packages. Initially, income and special punitive taxes were raised in ...
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