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Financial Transaction Tax (FTT)

30 April 2014, 10:40 CET
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EU Member States and their citizens want to ensure that the financial sector makes a fair and substantial contribution to public finances. Moreover, the European Commission believes that the sector should pay back at least part of what European tax payers have pre-financed in the context of the bank rescue operations. Some Member States have looked at new ways to tax the financial sector, notably by introducing bank levies and national financial transaction taxes. But the Commission says these initiatives risk leading to a fragmentation of the Single Market for financial services and to frequent occurrences of double taxation and double non-taxation. The Commission's proposal for a Financial Transaction Tax aims at harmonising the key features of those initiatives that aim at taxing financial transactions so as to minimise these risks.

The link address is: http://ec.europa.eu/taxation_customs/taxation/other_taxes/financial_sector/index_en.htm#prop

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