Jan 19, 20100

Germany Refuses EU Tax

Categories: Taxation in EU, Taxation in Germany

The Finance Ministry of Germany has stated that it is opposed to the imposition of an EU-wide tax, in response to a suggestion by the Finance Ministry of Luxembourg. Ahead of the EU and Euro-zone Finance Minister Summit held on January 18th and 19th, Luc Frieden, Finance Minister of Luxembourg, called for a new tax [...]

The Finance Ministry of Germany has stated that it is opposed to the imposition of an EU-wide tax, in response to a suggestion by the Finance Ministry of Luxembourg. Ahead of the EU and Euro-zone Finance Minister Summit held on January 18th and 19th, Luc Frieden, Finance Minister of Luxembourg, called for a new tax to be instated across the whole of the EU. German officials quickly denounced the idea, claiming that the EU already has sufficient funds. The German Ministry also ... Read More

Jan 15, 20100

Obama Proposes New Tax on Banks

Categories: Taxation in USA

US President Barack Obama has proposed a new tax on financial institutions that could raise USD117 billion to repay the financial crisis bailout payouts. In a speech on January 14th Barack Obama announced his intention to instate the Financial Crisis Responsibility Fee (FCRF), a tax which would be levied on financial institutions with over USD50 [...]

US President Barack Obama has proposed a new tax on financial institutions that could raise USD117 billion to repay the financial crisis bailout payouts. In a speech on January 14th Barack Obama announced his intention to instate the Financial Crisis Responsibility Fee (FCRF), a tax which would be levied on financial institutions with over USD50 billion in consolidated assets. Under the new tax applicable organizations would be taxed at a rate equal to 0.15 percent of their total assets less high-quality capital and ... Read More