Monday, September 8, 2014

Flood of money from financial control: New tax should billion in Schäuble’s … – ABC Online

Flood of money from financial control: New tax should billion in Schäuble's … – ABC Online

Monday, 09.08.2014, 02:47
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Now it is so but come: Germany and other countries want to introduce the so far failed financial transaction tax. On Finance Minister Wolfgang Schaeuble then came to a real windfall. We’re talking about nearly 18 billion euros.

is the planned European introduction of a tax on financial market transactions alone the German tax authorities annual revenues of at least 17.6 billion contribute €. This emerges from a report commissioned by the Federal Ministry of Finance, as the “Süddeutsche Zeitung” reported on Monday. Thus, even proceeds of up to 88 billion euros are theoretically possible. But as surely cease operations or are shifted,’ll end up together probably significantly less.



These countries want to introduce financial control

The federal government has been trying for years to the introduction of the so-called financial transaction tax ( FTT). Since a consensus at EU level or even beyond has not been possible with the idea after information of the “SZ” will now first of a kind “coalition of the willing” to be implemented. These included not only Germany nor France, Italy, Belgium, Austria, Spain, Estonia, Greece, Portugal, Slovakia and Slovenia.



If the tax gradually come?

The Federal Ministry of Finance holds the report, to the tax fixed: In a letter from the Parliamentary State Secretary Michael Meister (CDU) to the Bundestag Finance Committee it is stated that “it is very welcome that a considerable number of EU Member States” together was proceeding

. However, masters refer to the fact that the FTT should be introduced gradually after the recent decisions of the Minister of Finance. Keep it at that, the revenue would also beginning to be lower than projected in the report, the “Süddeutsche”. The levy is intended to reduce speculation and banks and insurers more involved in the costs of the financial crisis

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