1 Amendments of José Manuel GARCÍA-MARGALLO Y MARFIL related to 2022/2080(INI)
Amendment 118 #
14. Calls on the governments of the Member States to reverse the trend of curbing the taxes of top earners and proceed with the adoption of net wealth taxes; considers that such taxes should have a tailored scope to fit the asset portfolio of the wealthiest individuals, focusing on property, succession, financial assets and luxury goods above certain thresholds; calls on the Commission to promote initiatives at EU level to coordinate the implementation of such taxes in order to prevent evasion and avoidance in the single market; Observes that, from an efficiency and an equity perspective, there are limited arguments for having a net wealth tax when broad-based personal income taxes are in place. Acknowledges that net wealth taxes entail different risks such as double taxation, negative effects on entrepreneurship and liquidity concerns1a; _________________ 1a OECD. Publishing, 2018. The Role and Design of Net Wealth Taxes in the OECD. OECD.