The brief discusses how tax policy and in particular taxing wealth can support domestic resource mobilisation. 13 of 2023), which came into operation on the 1st of January 2024, introduced a new tax, a wealth tax. It will lay the groundwork for progressive taxation and a global wealth tax. There is potential for a wealth tax to alleviate global inequalities and help developing countries raise revenue to support sustainable development goals. The EU Tax Observatory (2023) estimates that wealth tax on the richest 3000 globally could raise about $250 billion.