Toxic taxes
Article Abstract:
The European Union (EU) plans a withholding tax on income from interest payments to residents of the EU, a move opposed by British prime minister, Tony Blair. Savings could be driven away if such a tax were imposed, and tax revenue could be reduced. Tax rates could be cut as a way of tackling tax evasion, and bank secrecy laws could also be changed. The bond market could move to the US if the tax is imposed. The EU should seek to lower taxes rather than raise them.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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Withheld
Article Abstract:
European Union (EU) ministers have failed to agree on a withholding tax, and lack of an agreement affects other measures which involve less controversy and are more useful such as measures to reduce tax loopholes. Britain opposes the withholding tax, which was aimed at private investors in EU countries with savings in other EU countries. The tax could involve such large extra costs and administration that Eurobond markets could leave the EU, Britain argues.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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Farewell, pan-European tax harmony
Article Abstract:
The debate on tax harmony in the European Union is examined in detail, including obstacles to harmony.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 2001
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