TaxPersonal TaxAgreement on witholding tax by June, EU finance ministers tell UK

Agreement on witholding tax by June, EU finance ministers tell UK

Britain has faced renewed pressure to agree to the EU's minimum witholding tax on non-resident savings from members states' finance ministers meeting in Brussels today.

The ministers insisted it was essential to reach a deal by the end of June.

The plan has been condemned by Chancellor Gordon Brown as a threat to jobs in the City of London if the move hits the vital eurobond market.

The UK’s continued objections to the plans have led to calls from other EU countries that the UK be deprived of its veto on EU tax measures.

EU backs down on witholding tax

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