Transaction tax wouldn't hurt UK, EU official says

03/20/2013 | Reuters

A financial-transaction tax under consideration for 11 euro-zone countries would not hurt the London banking sector, says Manfred Bergmann, the European Commission's director of indirect taxation. "There is no extra burden on nonparticipating member states to collect the tax," he told a UK parliamentary panel. "Will the City of London be forced to collect tax for Germany and France? No."

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