mast image

Special Report

Impact investing


EC 'misconception'

Condemnation has been heaped on EC plans to levy 20% withholding tax on income from bank accounts and international securities held by EU residents. The International Securities Market Association (ISMA) has called the proposal 'fundamentally misconceived', arguing that substantial losses will be incurred by bondholders, as issuers recall Eurobonds with special 'gross-up'tax clauses.

Distortions in financial markets and heavy administrative costs will also affect savers, ISMA says, whilst criticising a lack of consultation with the securities market for a scheme it believes will raise little in revenue for EU governments.

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

Begin Your Search Here