11 EU Countries Sign On For Financial Transaction Tax

Law360, New York (October 9, 2012, 7:22 PM EDT) -- A European Commission proposal to slap a tax on all stock, bond and derivative trades has won the support of 11 European Union member states, a key step in moving forward with a limited version of the plan aimed at recovering the costs linked to bailing out European financial institutions.

Algirdas Semeta, the European commissioner of taxation, customs, audit and anti-fraud, said four EU member states — Italy, Spain, Estonia and Slovakia — had agreed to send in letters to the commission supporting the creation of...
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