Bloomberg News

Transaction Tax to Hit Equities, Derivatives, Baroin Says

January 23, 2012

Jan. 22 (Bloomberg) -- France’s financial transaction tax will cover equity and derivative trading, but exclude government bonds, Finance Minister Francois Baroin said.

“It’ll be much wider than the simple stamp duty on stocks that it’s been described as,” Baroin said on LCI television. “We will discuss with the Germans to work out the best calendar for the tax.”

The governments haven’t decided whether to impose the tax on the traded security or on the financial company, he said. “I’d like to see the tax imposed by all 27” European Union members, he said. “But I’m not naive. The British are opposed and so are the Scandinavians.”

To contact the editor responsible for this story: Gregory Viscusi at gviscusi@bloomberg.net


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