Dutch Finance Minister Says Buyback Tax Would Raise Less Money

Dutch Finance Minister Sigrid Kaag said a parliament proposal to introduce a tax on share buybacks would raise less money than expected.

In a letter sent to parliament on Friday, Kaag said that the tax on share buybacks would only raise about €814 million ($860 million) per year rather than the €1.2 billion promised by the backers. That’s because the law may impel companies to move their headquarters abroad, she said.