Financial transaction tax proposal on the Council's table
On 8 November, the economic and financial affairs ministers took note of a presentation by the Commission of its proposal to tax financial transactions in the European Union.
The Commission considers that its proposal for a financial transaction tax (FTT) would enable the financial industry, currently under-taxed in relation to other sectors, to make a fair contribution to the public finances. It would also create a disincentive for transactions that do not enhance the efficiency of financial markets.
The draft directive would cover transactions relating to all types of financial instruments, including capital market and money market instruments (with the exception of instruments of payment), units or shares in collective investment undertakings and derivative agreements. Transactions with central banks are, however, excluded.
The presentation of the proposal was followed by an exchange of views among ministers. The Ecofin Chairman, Polish Finance Minister Jacek Rostowski, invited the relevant Council working parties to start analysing the proposal.
EU decision-making on tax issues requires unanimity.
- Football family is invited to create an official Baltic Cup tournament logo
- Ventspils nafta wins Best Interactive Investor Relations
- Philips reports fourth-quarter comparable sales growth of 7%; operational results up by 20%; 2013 financial targets achieved
- FIVE BULGARIANS ARRESTED FOR INTERNATIONAL PAYMENT CARD FRAUD
- Counterfeit euro print shop busted in Spain
- Tractor thieves halted by Eurojust and Europol coordination
- ANTI-HUMAN TRAFFICKING OPERATION HITS BRUSSELS’ RED LIGHT DISTRICT
- INTERNATIONAL NETWORK OF LATVIAN PAYMENT CARD FRAUDSTERS DISMANTLED
- Āboltiņa to Baltic parliamentarians: Cooperation in energy and Rail/BalticRail Baltica project are important both from economic and geopolitical perspective
- 690 internet domain names seized because of fraudulent practices
07:18 EET 10.03.2014