Global

Details

  • Service: Tax, International Corporate Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 11/12/2012

EU - Financial transaction tax to be presented to Council 

November 14: The EU Council discussed the financial transaction tax and savings agreements and adopted conclusions on tax fraud, evasion, and VAT derogations. Read a press report [PDF 277 KB] of the 13 November action by the Council.


November 12:   A proposal for a financial transaction tax will be presented at the 13 November 2012 meeting of the EU’s Council of Economic and Finance Ministers.

This follows the European Commission’s action on 23 October 2012 to authorize a common financial transaction tax. See TaxNewsFlash-Europe: EC - Support for enhanced co-operation on financial transaction tax


The financial transaction tax must be adopted by a qualified majority of EU Member States and receive consent of the European Parliament in order for the 11(+) Member States to move forward with a common financial transaction tax.


Also included on the agenda is consideration of negotiations on the savings taxation agreements with Switzerland, Liechtenstein, Monaco, Andorra, and San Marino.


Read the EC release (9 November 2012).




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