
Wealth taxation is a practical necessity; but it is also a crucial component of tax justice. In 2022, taxes on goods and services—such as VAT, GST, and sales and excise taxes—made up an average of 48.8% of government revenues in Asia-Pacific countries. This is significantly higher than the 31.9% average in OECD-developed countries. The heavy reliance on regressive taxes in Asia puts an unfair burden on workers, farmers, women, youth, and other vulnerable groups, often with little return in terms of public services or improvements in living and working conditions.
It is high time we put an end to inequality and push for more progressive taxation!