A financial transaction tax seems certain to be introduced, if not across the EU, then in individual member states. However, Philip Martin, formerly co-head of tax at Nomura, does not believe it will raise the revenue envisioned by its designers or lead to more market stability.
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Two months since EU political agreement on pillar two and few member states have made progress on new national laws, but the arrival of OECD technical guidance should quicken the pace. Ralph Cunningham reports.