Reuters: US Dollar Report: Germany proposes stamp-duty style tax for EU

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Germany proposes stamp-duty style tax for EU Mar 30th 2012, 15:47 COPENHAGEN, March 30 | Fri Mar 30, 2012 11:47am EDT COPENHAGEN, March 30 (Reuters) - Germany has proposed initially limiting any tax on financial transactions in the European Union to listed company shares, according to a document circulated at a meeting of EU finance ministers and seen by Reuters. The document describes a two-stage approach of advancing towards a "comprehensive financial transaction tax", with the first being "guided by the overall approach of the British stamp duty reserve tax and the French tax on financial transactions". "This would entail a tax payable on all transactions involving shares of corporations listed on a stock exchange, with the tax levied according to the place where the corporation has its registered office," the document said. The document, which will be the basis of talks on the issue on Friday, said that negotiations on a broader tax that also covers bonds and derivatives should follow that initial step.

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