28 September 2011

Association of German Banks warns against financial transactions tax

"Neither at international nor EU level is there a sustainable consensus on a financial transactions tax. According to the European Commission's current plans, avoidance of the tax to the detriment of the affected financial markets would be countered by a very broadly defined "principle of location". There are considerable doubts, from both a legal and a practical perspective, whether an approach of this kind can succeed in preventing avoidance action at the expense of countries subject to the tax."

Press release

© BDB - Bundesverband Deutscher Banken