Luxury homes could lose 40% in value, says Mozilo

The US President and his wife reported having paid $150,439 in taxes for 2021. This is equivalent to a tax rate of 24.6%. Vice President Kamala Harris and her husband earned over $1.6 million during the same period.

Former soccer player Samuel Eto'o has acknowledged that he committed four crimes against the Public Treasury when he played for Barcelona Football Club in the trial that took place this morning in criminal court number 11 from Barcelona.

The Federal Government has disclosed that telecommunications subscribers would pay a five percent tax on calls, SMS, and data services. Meanwhile, stakeholders in the industry have expressed dissatisfaction over the government’s resolve to implement a five percent excise duty on all telecommunications services in Nigeria.

In the US, a small number of Patriotic Millionaires has banded together to demand the government tax the rich. They say tax revenue is the fuel the country runs on. Meet an American multimillionaire in Georgia who'd gladly pay his fair share.

The German Finance Ministry has revealed a plan to ease income tax in response to spiraling inflation. However, critics had claimed the measures would benefit top earners the most, and squeeze public spending.

Chancellor Olaf Scholz has announced a tax reduction on gas as the war in Ukraine drives up prices. Until 2024, the lower tax rate of 7% will be charged, not 19%. Scholz also promised more support for consumers.

The European Union is proposing a cap on the price of Russian natural gas, despite Vladimir Putin threatening to cut off supplies for any market that does so. European Commission President Ursula von der Leyen is also asking energy ministers to consider imposing a windfall tax on companies that have reaped the benefits of high oil and gas prices. It's a move many countries are considering - although the UK's new Prime Minister Liz Truss has ruled it out.

Economist Jayati Gosh believes a windfall tax is a "no-brainer". "The difficulty is how do you establish how much is windfall? It's very complicated," Ghosh tells FRANCE 24. She is a professor of economics at the University of Massachusetts Amherst and the newly appointed co-chair of the Independent Commission for the Reform of International Corporate Taxation.

Economist Jayati Gosh believes a windfall tax is a "no-brainer". "The difficulty is how do you establish how much is windfall? It's very complicated," Ghosh tells FRANCE 24. She is a professor of economics at the University of Massachusetts Amherst and the newly appointed co-chair of the Independent Commission for the Reform of International Corporate Taxation.

A government plan calls for a tax on Spain's "big fortunes" would help offset inflation relief measures to assist low and middle-income Spaniards.

The currency took a beating from investors after the government announced plans to cut billions in tax revenues. The new Conservative Party government under Prime Minister Liz Truss has been in power for just 20 days.

There is a run on the pound and panic in the markets over the UK's biggest tax cut for the rich in half a century. New Prime minister Liz Truss taking the concept of 'going for broke' to a whole new level with an almighty gamble that the deficit will take care of itself once all the investment pours in.