IMF proposes global bank tax plans: report

Wed, 04/21/2010 - 01:46 EDT - France24.com - Business

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The International Monetary Fund has proposed two new global taxes on banks and other financial institutions to cover the cost of future bailouts, the BBC reported.The measures would see all institutions pay a bank levy as well as a further tax on profits and pay, which would aim to protect against future financial meltdown, said the broadcaster Tuesday, citing a leaked IMF report.Governments of the Group of 20 advanced and developing countries -- which account for more than 85 percent of the global economy -- received the documents Tuesday, said the BBC.

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IMF proposes global bank tax plans: report
The International Monetary Fund has proposed two new global taxes on banks and other financial institutions to cover the cost of future bailouts, the BBC reported.The measures would see all institutions pay a bank levy as well as a further tax on profits and pay, which would aim to protect against future financial meltdown, said the broadcaster Tuesday, citing IMF documents.Governments of the Group of 20 advanced and developing countries -- which account for more than 85 percent of the global economy -- received the documents Tuesday, said the BBC.
IMF proposes global bank tax plans: report (AFP)
European officials welcome IMF bank tax plans
European officials on Wednesday welcomed IMF proposals for two new global taxes on banks to cover the cost of future bailouts after hundreds of billions were spent to stabilise them.The measures would see lenders and other financial institutions pay a levy as well as a further tax on profits and pay, which would aim to protect against a repeat financial meltdown, the BBC reported, citing a leaked IMF report.
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IMF proposes global bank tax plans: report

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