Friday June 5, 2020

Tax: Bank of America warns against transaction tax

Bank of America Merrill Lynch is the latest to caution against the implementation of the European financial transaction tax.

30th March, 2013

Bank of America Merrill Lynch is the latest to caution against the implementation of the European financial transaction tax, describing it as "potentially very damaging" to investment returns and economies.

In a new research report, Bank of America outlines a number of reasons to oppose the proposed tax, namely its cumulative nature, its broad scope and the likelihood of its effects to spill over into countries not strictly party to it.

In January, EU finance...

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