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France May Raise EU1 Bln From Tax on Stock Trades, Figaro Says

Jan. 28 (Bloomberg) -- France may raise 1 billion euros ($1.3 billion) annually from a transaction tax on stock trades, Le Figaro reported, without saying where it got the information.

The 0.1 percent tax would also cover the most standardized derivatives products, while bonds and transactions on capital instruments would not be taxed, Le Figaro said. The tax project will be presented at a Feb. 8 French government cabinet meeting, according to the report.

To contact the reporter on this story: Fabio Benedetti-Valentini in Paris at fabiobv@bloomberg.net

To contact the editors responsible for this story: Frank Connelly at fconnelly@bloomberg.net; Edward Evans at eevans3@bloomberg.net

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