EU Financial Transaction Tax Deal Likely By Fall

Law360 (June 14, 2019, 3:39 PM EDT) -- The European Union will likely reach a deal on a proposed financial transaction tax by the fall, Germany's finance minister said Friday.

At a meeting of EU finance ministers in Luxembourg, Germany’s Olaf Scholz praised what he said was a high level of cooperation among member countries and a willingness to reach an agreement quickly on the tax, which was first proposed by the European Commission in 2011. Following a lack of productive negotiations for years, France and Germany came up with a plan to levy a French-style financial transaction tax with a rate of no less than 0.2%.

"It's highly...

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