Bloomberg Tax
June 14, 2019, 7:17 PM UTCUpdated: June 14, 2019, 8:18 PM UTC

10 EU Countries OK Financial Transaction Tax Revenue-Sharing Plan (1)

Ten European Union countries have agreed on a revenue-sharing plan for the bloc’s proposed financial transaction tax that would reimburse the administrative costs of countries that have small stock markets and few large companies.

“The mutualization plan is very important because it will ensure that the cost for applying the FTT in smaller countries is not higher than the revenue that comes in from the tax,’' German Finance Minister Olaf Scholz said at a June 14 news conference in Luxembourg on the sidelines of a Council of Economic and Financial Affairs meeting.

Germany, France, Italy, Spain, Portugal, Greece, Slovenia, ...

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