European Plan to Tax Stock Trades Closer to Becoming Reality
- EU ministers agree to go ahead with French-German proposal
- Legislative text is targeted for May, according to official
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Traders of European shares may face a new tax bill as finance ministers edge closer to an agreement in long-running talks on a financial-transaction tax.
At a meeting late Monday in Brussels, finance ministers from the 10 European Union countries involved decided to press ahead with a model that France and Germany proposed as part of efforts to reform the euro area, according to two officials involved in the talks. The plan is to have a legislative text ready in May, one of the officials said.