I thought only income could be taxed? If you have valuables just sitting there, how can they be taxed? Obviously if you sell them there might be capital gains, but not before?
Due to some kind of international law against taxing property? There’s no such thing.
Have you never heard of property tax, land value tax, etc?
Other things that aren’t income that are taxed that you’ve surely heard of include value added tax, sales tax, window tax, television tax, you could go on forever...
https://europa.eu/youreurope/citizens/work/taxes/income-taxe...