A similar tax is regulated in Hungary which will lead to an increase in income for the
state budget of around 125 million Euros. Moreover, the Hungarian “Robin Hood” tax
envisages several economic sectors such as energy, banking, telecom and even consumption
In Italy, the tax on the profits of oil companies has been introduced since 2008.
Even if the idea of a surcharge on financial transactions emerged in the U.S. and the UK,
such surcharge was not regulated in these countries, as it was deemed that the two countries
could bear the cost of internal and external aid granted to mitigate the effects of the financial
crisis whilst the “Robin Hood” tax wouldn’t be a good way to attract new funds in the budget,
given the implications hereof.
Governmental debates were also held in Romania; the tax would have targeted the profits
of oilmen and banks, yet nothing was regulated in this area, as it was thought that changes in
the tax law on banking matters would have led to the removal of foreign capital in this sector.
2.2. Solidarity tax is a “Robin Hood” tax or charge type and was established in France.
The French parliament passed a special surcharge on income, as part of its efforts to reduce
the deficit; under this tax, people with an annual income ranging from 250,000 Euros to
500,000 Euros will have to pay a surcharge of 3% of their income while an additional 4%
taxation will apply to the incomes exceeding 500,000 Euros.
Germany also regulated a solidarity tax, but it was a temporary surcharge introduced for
the first time in 1991, following the German reunification. Since 1991, the legislation on
solidarity tax suffered a series of changes so that in current conditions it has changed its
purpose of solidarity charge for the former East Germany (former GDR) in that of a solidarity
tax for the poor; currently, the amount thereof is 5.5% of the value of the income taxes.
Solidarity tax is not charged on people paying an annual income tax of up to 972 Euros,
respectively 1944 Euros for married couples. Above this level, the percentage increases until
reaching 5.5% for an income tax amounting to 1340.60 Euros, respectively 2681.38 Euros for
In regard to the solidarity tax, the Scandinavian countries are “champions” as the tax
amounts to 59% for any annual income exceeding 45,000 in Denmark and 56% for income
exceeding 374,000 Swedish kroner, the equivalent of 366,000 Euros.
2.3. Wealth surcharge envisages additional taxation of all estates that exceed a certain
amount and represents a type of solidarity tax.
As such, assets exceeding the amount of 770,000 Euros are taxable in France, the
applicable amount being 0.55%; a different percentage is applied on the companies with
respect to those assets whose value exceeds 16.02 million Euros, namely 1.8%. Copyright, art
collections and income from private pensions are exempt from this additional tax.
Norway has regulated a similar tax whose value ranges from 0.9 to 1.1%.
In Switzerland, wealth tax differs from one canton to another and varies around 1.5%.
The federal law delimits this tax according to residence: the residents pay wealth tax in
respect of all assets they own in the country, while the non-residents must pay an annual tax
on the assets related to the companies and buildings located in Switzerland.
In Romania there was a legislative proposal whereby the owners with wealth of over
500,000 Euros were to pay a so-called “stated wealth tax”, meaning a surcharge on the
declared property, and hence already taxable, which was to reach an amount of 0.5-1% of the
Refer to the carbonated beverage tax.