Belgium Adopts Tobin Tax

The Belgian parliament has approved a law introducing a tax on the exchange of foreign currency, bank notes, and coins. The Chamber of Representatives adopted the bill on July 15, and the Senate has not used its right to review it. The bill should be signed by King Albert II and published in the official gazette within a few weeks. Belgium will be the first country to introduce a Tobin tax, although under article 13, paragraph 3 of the law, the tax cannot enter into force until all member states of the European Economic and Monetary Union adopt similar legislation.

Belgium Supports Tobin Tax, Tax Notes International, 22 November 2004
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