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Why a Financial Transaction Tax?

Why a Financial Transaction Tax? ec Editorial TAX REVIEW 2012­1 Following an impressive list of political, business and academic personalities , international non-governmental organizations and institutions such as the UN General Assembly, the EU Parliament, EU Commission and EU Council called for considering the introduction of a universally applied Financial Transaction Tax, the November 2011 G-20 Summit in Cannes joined this calls. The final communiqué says: 28. In order to meet the Millennium Development Goals, we stress the pivotal role of ODA. Aid commitments made by developed countries should be met. Emerging countries will engage or continue to extend their level of support to other developing countries. We also agree that, over time, new sources of funding need to be found to address development needs and climate change. We discussed a set of options for innovative financing highlighted by Mr Bill Gates. Some of us have implemented or are prepared to explore some of these options. We acknowledge the initiatives in some of our countries to tax the financial sector for various purposes, including a financial transaction tax, inter alia to support development. Lieven Denys, Professor, European & International Tax Law, Free University of Brussels and international organizations which also work within the http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png EC Tax Review Kluwer Law International

Why a Financial Transaction Tax?

EC Tax Review , Volume 21 (1) – Feb 1, 2012

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Publisher
Kluwer Law International
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Copyright © Kluwer Law International
ISSN
0928-2750
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Abstract

ec Editorial TAX REVIEW 2012­1 Following an impressive list of political, business and academic personalities , international non-governmental organizations and institutions such as the UN General Assembly, the EU Parliament, EU Commission and EU Council called for considering the introduction of a universally applied Financial Transaction Tax, the November 2011 G-20 Summit in Cannes joined this calls. The final communiqué says: 28. In order to meet the Millennium Development Goals, we stress the pivotal role of ODA. Aid commitments made by developed countries should be met. Emerging countries will engage or continue to extend their level of support to other developing countries. We also agree that, over time, new sources of funding need to be found to address development needs and climate change. We discussed a set of options for innovative financing highlighted by Mr Bill Gates. Some of us have implemented or are prepared to explore some of these options. We acknowledge the initiatives in some of our countries to tax the financial sector for various purposes, including a financial transaction tax, inter alia to support development. Lieven Denys, Professor, European & International Tax Law, Free University of Brussels and international organizations which also work within the

Journal

EC Tax ReviewKluwer Law International

Published: Feb 1, 2012

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