Business News
EU tax 0.1-per-cent on bonds, 0.01 per cent on derivatives
Sep 28, 2011, 9:25 GMT
Strasbourg, France - A proposed EU financial transaction tax would impose a 0.1-per-cent levy on bonds and shares and a 0.01-per-cent levy on derivatives, EU sources said Wednesday.
The plan was unveiled by European Commission President Jose Manuel Barroso in his annual State of the Union speech before the European Parliament in Strasbourg, France.
The tax would be enforced across the European Union starting from 2014. But its introduction is subject to unanimity, meaning that any EU state can veto the proposal.
