💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Financial transaction tax by 2021, says Germany's Scholz

Published 06/14/2019, 07:58 AM
Updated 06/14/2019, 08:00 AM
© Reuters. FILE PHOTO: German Finance Minister Olaf Scholz attends a news conference during the G20 Finance Ministers and Central Bank Governors Meeting in Fukuoka

BERLIN (Reuters) - A tax on financial transactions in Europe should be implemented by 2021, German Finance Minister Olaf Scholz tweeted on Friday after a meeting of euro zone finance ministers, adding that the foundations for the tax would be laid this year.

He tweeted: "Financial transaction tax is on the way. We want to establish the foundation for the tax within this year – in order to implement it in 2021. Our aim: To raise revenue to finance our communities."

© Reuters. FILE PHOTO: German Finance Minister Olaf Scholz attends a news conference during the G20 Finance Ministers and Central Bank Governors Meeting in Fukuoka

He added, without giving details, that the ministers had also made a "decisive step" towards creating a budget for the euro zone.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.