Experts say Tobin tax not applicable in Moldova
The Tobin tax, which the Ministry of Finance wants to introduce for banks in 2012 to divide the taxation system for banks from the economic agents, is considered to be inapplicable for Moldova, Mai 11. This is the opinion of Adrian Lupusor, an expert of the Independent Analytical Center Expert-Grup.
He told your Infotag correspondent that the penetration level of the bank system in the economy is too insignificant yet, and an additional tax burden will make the credits even more expensive.
The expert also thinks that the introduction of the Tobin tax also has a political substratum.
"This measure tends to decrease the widespread discontent with the bank system considered to be a possible source of the crisis." said Lupusor, underlining the inconsistency of the whole idea.
"Unlike the world crisis, the Moldovan one had different roots which are not of a banking nature" said the expert.
He also reminded that the expediency of introducing the James Tobin tax has been discussed since the beginning of the '70s of the last century, and now this tax became pretty popular in the European Union as well as in the International Monetary Fund (IMF) reports in the light of the global financial crisis.
Infotag's dossier: The Tobin tax advocates suggest using it for fighting the poverty and inequality. This proposal has many supporters, among them the president of Venezuela Hugo Chavez. However, most of the new [European] liberals have a negative attitude toward it. The possibility of introducing this tax in Moldova was researched within the project of "Objectives of the fiscal policy of 2011-2013" developed by the Ministry of Finance. The project does not contain the probable amount of the tax.
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