A proposed European financial-transactions tax is foundering as 11 participating nations try to meet a December deadline to decide how to charge levies on an array of financial products.
Nations still haven’t decided what trades to tax, how to calculate levies or how to treat pension funds and government bond-related transactions, according to a document prepared for technical talks Wednesday in Brussels. The slate of unsettled topics suggests nations will have trouble meeting the December deadline set earlier this month by Austrian Finance Minister Hans Joerg Schelling, who leads the negotiations.
