International
Green light to the Tobin tax
Green light to the Tobin tax
The European Commission has taken a step forward, after a decade of protests and campaigns, to establish a tax for financial transactions (commonly known as Tobin Tax), and which could mean an important source of income to eradicate poverty in the world.
According to the Network of Catholic Organizations for Development (CIDSE), to which ALBOAN belongs, “the Tobin Tax may come into effect January 1, 2018, and may yield a profit of 37 thousand million”.
It is foreseen that during this autumn the preparation of a legal proposal will take place and that it will allow to draw up the characteristics of this tax. The CIDSE network is pleased with the step taken to establish a tax that could be an important financial source to fight against inequality, poverty and climate change.
