Iceland plans "stability tax" at removal of capital controls

April 14, 2015 7:17 PM

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REYKJAVIK, April 14 (Reuters) - Iceland's finance minister said on Tuesday the government was working on a tax aimed at cash transfers to other countries from the estates of the country's collapsed banks to prevent an exodus as it starts lifting capital controls.

Prime Minister Sigmundur Gunnlaugsson has promoted such an exit tax, or "stability tax", since before his Progressive Party came to power in 2013 in a coalition together with the Independence Party. It has however not been clear whether he had enough backing by the government for the idea.

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