Letter: Proposals for taxing billionaires face hurdles

In his review of Gabriel Zucman’s proposals for taxing billionaires (“How to tax the ultra-rich the same as you and me”, Opinion, June 27), Martin Sandbu points out Zucman’s suggestion for a “presumptive income tax” that stipulates a presumptive rate of return and taxes accordingly.

This suggestion is no different to the Dutch Box 3 taxation system. This has been in place for many years but has recently been struck down by the Dutch Supreme Court as being incompatible with the European Convention on Human Rights. The court held that the system of the deemed asset fix is incompatible with the right of procession and the equality right.

As always, fixing the tax system and making that work on a global basis will not be straightforward.

Joe Zammit-Lucia
Radix Centre for Business, Politics & Society
Amsterdam, The Netherlands