Wednesday, December 7, 2011

Eurozone: France and Germany urge common taxes

The leaders of France and Germany have called jointly for eurozone countries to have common corporation and financial transaction taxes.

The tax policy would apply only to the 17-member eurozone. France has long complained about Ireland's low corporation tax rate of 12.5%.

The proposal came in a letter to European Council President Herman Van Rompuy, on the eve of a key EU summit.

Both countries want changes to the EU treaties to enforce budget discipline. source