French Tobin Tax Introduced at 0.2% Rate
This article was first published on Bobsguide.com, 2 August 2012
France has become the first country in Europe to introduce a financial transactions tax (FTT), setting the rate at 0.2% per transaction when it went live yesterday.
The FTT, also referred to as a tobin tax after the Nobel Laureate economist James Tobin who first proposed the idea back in the 1970s, was originally floated by the ousted French president, Nicolas Sarkozy, but it has been enthusiastically taken up by his successor, Francois Hollande, and the rate doubled to 0.2% on all publicly-traded businesses with a market value in excess of EUR1bn...
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First published on Bobsguide.com, 2 August 2012