Opinions divided over IMF's bank tax plans

The globe's most influential economies failed to agree consenus on the International Monetary Fund's bank tax proposals.

After meetings by the G20 finance ministers saw Canada oppose the two tax plan, plus other concerned opinions, more discussion is required to thrash out a plan.

The IMF has proposed a levy on banks, plus a tax on profits/remuneration.

Other plans include overhauling and broadening the definition of capital by which banks protect themselves from collapse.

Further reading:

Banks face double tax whammy

IMF's banking tax could backfire