| Author (Person) | Hall, Ben |
|---|---|
| Series Title | Financial Times |
| Series Details | 11.12.09 |
| Publication Date | 11/12/2009 |
| Content Type | News |
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Article reports that President Nicolas Sarkozy is to follow Britain’s lead and impose a one-off tax on bonus pay-outs by banks operating in France. The UK announced on the 9 December 2009 that it would impose a one-off levy on bonus payments paid by banks above £25,000. On the 10 December 2009 the French government was still working out the details, but intended to bring Paris in line with London by forcing banks to pay 50% in tax on bonus pay-outs for 2009 above €27,000. German Chancellor Angela Merkel joined the clamour about bankers’ bonuses, saying moves to curb payouts would help the financial sector learn from its mistakes. France and the UK said they would urge their EU counterparts to adopt similar one-off taxes. Later, it was said that European Union leaders at the European Council, Brussels, 10-11 December 2009 had urged the International Monetary Fund (IMF) to consider implementing a global tax on financial transactions (Tobin Tax) |
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| Subject Categories | Taxation |
| Countries / Regions | Europe, France, Germany, United Kingdom |
