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German Bank Tax Could Have Raised EU2 Billion, Handelsblatt Says

The German bank levy could have collected 2 billion euros ($2.6 billion) over the past year, compared with the 590 million euros it did raise, had it not been capped, Handelsblatt reported on its website, citing Manfred Zoellner, a Social Democratic Party representative.

Contributions from 56 institutions were limited to one-fifth of a bank’s profit, the report said.

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