France Wants ‘Dangerous’ Derivatives in Europe’s FTT, Sapin Says
2014-09-13 11:50:54.166 GMT
By Mark Deen
Sept. 13 (Bloomberg) -- French Finance Minister Michel
Sapin says the 11 European countries planning a tax on financial
transactions are working to identify the derivatives that would
be covered.
* Finance ministers from that group of nations met in Milan
during gatherings of European Union finance ministers and
central bank chiefs, Sapin says
* The planned FTT will “include shares but not only shares,”
he says
* “There are two questions: what shares, what types of
shares, taxed in what way? I won’t get into details because
we’re advancing,” Sapin says
* “The other subject, of course, is: which derivatives? We
want to identify the derivatives that carry the most risk”
he says, adding that France’s position is that “taxation is
there to increase the cost of a dangerous product”
* The group of 11 aims to complete technical work on the FTT
by year-end so the tax can be introduced in January 2016,
Sapin says
* He speaks to reporters in Milan
For Related News and Information:
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To contact the reporter on this story:
Mark Deen in Milan at +33-1-5365-5066 or
markdeen@bloomberg.net
To contact the editors responsible for this story:
Craig Stirling at +44-20-7673-2841 or
cstirling1@bloomberg.net
Jonathan Stearns
2014-09-13 11:50:54.166 GMT
By Mark Deen
Sept. 13 (Bloomberg) -- French Finance Minister Michel
Sapin says the 11 European countries planning a tax on financial
transactions are working to identify the derivatives that would
be covered.
* Finance ministers from that group of nations met in Milan
during gatherings of European Union finance ministers and
central bank chiefs, Sapin says
* The planned FTT will “include shares but not only shares,”
he says
* “There are two questions: what shares, what types of
shares, taxed in what way? I won’t get into details because
we’re advancing,” Sapin says
* “The other subject, of course, is: which derivatives? We
want to identify the derivatives that carry the most risk”
he says, adding that France’s position is that “taxation is
there to increase the cost of a dangerous product”
* The group of 11 aims to complete technical work on the FTT
by year-end so the tax can be introduced in January 2016,
Sapin says
* He speaks to reporters in Milan
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Mark Deen in Milan at +33-1-5365-5066 or
markdeen@bloomberg.net
To contact the editors responsible for this story:
Craig Stirling at +44-20-7673-2841 or
cstirling1@bloomberg.net
Jonathan Stearns