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EU plans global financial-transaction tax: report
The European Union wants to tax financial transactions worldwide that involve Europeans, German daily Handelsblatt reports Wednesday, citing a draft proposal. Offshore banks would also have to collect the tax when they conduct transactions for European customers, the newspaper said. European Commission President Jose Manuel Barroso intends to announce the tax plan to the European Parliament with an eye to introduction in 2014, the newspaper said. The plan marks the first attempt to tax financial transactions on such a broad basis, the newspaper said. The EU reasons that the financial sector should take on "a fair ... (full story)
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