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Germany Pushes Forward on European Financial Transactions Tax

Source: https://wsj.com/articles/germany-pushes-forward-on-european-financial-transactions-tax-11576074482 - Jan 9, 2020

Germany, France, Italy and seven other countries are moving forward with a plan to impose a joint financial transaction tax on stock trading, an effort that has proved elusive in Europe.

Under a new blueprint for the tax, sent by Germany Finance Minister Olaf Scholz to the other governments on Monday and seen by The Wall Street Journal, anyone buying shares in large companies domiciled in those countries and with a market value of over €1 billion ($1.1 billion) will have to pay a minimum 0.2% tax over the transaction value.

No levy would be imposed on initial public offerings, market making, share buy backs and purchases by pension funds.

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Category: General Business