Europe: Commission publishes proposed FTT Directive

The European Commission yesterday published its proposed Directive for a financial transaction tax in eleven Member States (Belgium, Germany, Estonia, Greece, Spain, France, Italy, Austria, Portugal, Slovenia and Slovakia): see here (pdf). Further information is available in the accompanying press release, the FAQs and on the Commission's website.

Europe: Financial transaction taxation - EcoFin approves enhanced cooperation by eleven Member States

The Economic and Financial Affairs Council has, agreed (by a qualified majority: The Czech Republic, Luxembourg, Malta and the United Kingdom abstaining) to permit eleven Member States (Belgium, Germany, Estonia, Greece, Spain, France, Italy, Austria, Portugal, Slovenia and Slovakia) to begin enhanced cooperation in respect of the introduction of a financial transaction tax: see here (pdf). Further background information is available here.

Europe: Commission publishes financial transaction tax proposal

The European Commission today published its proposal for a Directive introducing a common framework for a tax on financial transactions in the 27 Member States: see here (pdf). According to the Commission, ten Member States already have a form of financial transaction tax in place. The Directive would introduce minimum tax rates and harmonise the taxation of financial transactions. For further information see: press release | FAQs | citizens' summary (pdf) | impact assessment (zip file containing 19 pdfs) | summary of the impact assessment (pdf) |