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Eversheds comment: Multiple taxation concerns will weigh on potential 'Tobin tax'

  • United Kingdom

    14-02-2013

    Eversheds comment: Multiple taxation concerns will weigh on potential 'Tobin tax'
     
    Commenting on the EU's plans to introduce a eurozone financial transaction tax, Ben Jones, tax expert at global law firm Eversheds, says:

    "The objections raised in the US to the extra-territorial nature of these European proposals echo recent concerns raised by the OECD regarding unilateral and uncoordinated measures to tackle the perceived unfairness of the international tax rules applying to multinational businesses.

    "Like the taxation of multinationals, the taxation of financial transactions is a global issue and the OECD's view that unilateral action against multinational businesses may lead to double or multiple taxation and have a negative impact in investment, growth and employment globally must also be applicable to proposals to tax financial transactions that have a global impact but do not have global support."

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