Collecting transaction tax in Germany could cost 8 million euros - study
Collecting a long-awaited EU tax on financial transactions could cost up to 8 million euros (£7.15 million) in Germany alone, a European Union document showed on Wednesday.
Ten EU countries, including Germany, want to tax stock, bond and derivatives transactions as a way for the financial sector to raise funds after the huge taxpayer bailouts it received during the financial crisis.
The financial industry has been waiting to see how the financial transactions tax (FTT) would be collected and the likely costs.
The EU document includes the findings of an unpublished study by consultants... read more
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