International: Insurers criticise IMF proposals
An insurance 'think tank' representing leaders of 80 international insurance groups protested against the industry's inclusion in IMF proposals for two new taxes on banks and other financial institutions (see Tax Journal 26 April p 2). The Geneva Association said the proposal to levy a financial stability tax on all financial institutions failed to address adequately the distinct nature of the insurance industry and the industry's 'stabilising role' in the economy.
