Insurers object to IMF's global tax plan
Letter to G20 claims tax would be "arbitrary"
As many as 80 insurance companies have petitioned the G20 in opposition to
their inclusion in measures to introduce a global financial service tax.
A lobby group for the insurers have described the proposals as ”
inappropriate and arbitrary”, according to a the Financial Times.
Last week the G20 sort more work from the IMF on its plan for a tax on
financial services companies to cover the cost of bank collapses in the future.