The minimum rates set by the European Commission's proposal to tax financial transactions will be 0,1% for transactions in shares and bonds and 0,01% for transactions in derivative products.
The Commission has also forecast that revenues should amount to 57 billion a year. This is what the EU executive officially indicated today. Member States would be free to apply higher rates. The tax should be paid by each party involved in the transaction.
Just this morning Barroso had spoken of a Tobin Tax vhe should come into effect from 2014.
