audit Participant 
of PRAXITY,  AISBL,
a Global Alliance
of Independent Firms
    ua  ru     Home Search Site map Send a message

28.11.2011: European businesses criticise Tobin Tax proposals

EUROPEAN BUSINESS leaders have called for plans to introduce a Tobin Tax in the European Union (EU) to be scrapped.

EU governments, including Germany and France, have expressed their wish to introduce a financial transaction tax, which will impose a 0.1% levy on all transactions between financial institutions within Europe.

In a letter to the Financial Times, representatives of the business committees on the Organisation for Economic Co-Operation and Development and the International Chamber of Commerce, came out against the tax.

They said it could be "disastrous" for Europe and reduce GDP by more than 2% in member countries.

"While an FTT would indeed raise some government revenues in the short term, it would immediately negatively affect the economy and not foster growth," the letter said.

Source: Accountancy Age

Also in the news
[23.12.2024]
Season's greeting from Kyiv Audit Group!

[28.04.2023]
Kyiv Audit Group prepared The Transparency Report for 2022

[07.07.2022]
Praxity Global Alliance Awarded Highly Commended for Association of the Year 2022

[29.04.2022]
Kyiv Audit Group prepared The Transparency Report for 2021

[23.12.2021]
Season's greeting from Kyiv Audit Group!

[11.11.2021]
It's a hat-trick! Praxity Global Alliance has regained its crown as the Association of the Year and gets triple award

[17.09.2021]
Kyiv Audit Group awarded Leader of the Branch 2021

[16.07.2021]
Happy Accountant's and Auditor's Day

[12.05.2021]
Happy Birthday - Kyiv Audit Group - 25th Anniversary

[21.04.2021]
Kyiv Audit Group prepared The Transparency Report for 2020