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. Last Updated: 07/27/2016

Eurobond Exemption

BRUSSELS, Belgium -- The European Commission on Wednesday left the door open for making high-value Eurobonds exempt from a proposed European Union-wide tax on the interest on savings.

But acting EU Taxation Commissioner Mario Monti said proposals to exempt Eurobond holdings above 40,000 euros ($43,250) from the withholding tax could lead to unfair tax discrimination, by allowing wealthier individuals to escape paying tax on investments outside their home country - the loophole the tax measure was designed to close.

EU finance ministers are due to discuss a package of tax measures aimed at the corporate sector at a meeting in Dresden, Germany, beginning Friday.