Austria won’t participate in a planned financial-transaction tax unless the revenue generated outweighs the cost to the industry, Finance Minister Hans Joerg Schelling said.
“Austria won’t be part of a fig-leaf tax announced for political reasons to counter evil speculators,” Schelling said in an interview in Milan. “If the overhead for banks, companies and stock buyers is bigger than the outcome,” the tax “doesn’t make sense,” he said.
Source: Tax-News.com
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