Details

  • Service: Tax, International Corporate Tax, Global Indirect Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 2/22/2012

France - Bill introducing a financial transactions tax 

February 22: A bill proposing measures for the taxation of financial activities was introduced for discussion before the French Parliament on 13 February 2012.

The bill proposes to implement, in advance, certain provision of an EC Directive providing for a common system of taxation of financial transactions. See TaxNewsFlash-Europe European Commission - Proposal for financial transaction tax (September 2011).


Among the proposed measures are a financial transactions tax, a tax on “high frequency trading,” and a tax on credit derivative contracts with respect to an EU Member State’s bonds when the purchaser does not simultaneously have a long position on that Member State’s sovereign debt.


To read a February 2012 report prepared by FIDAL (a French law firm that is independent from KPMG and its member firms): Bill introducing a tax on financial transactions (PDF 200 KB)


See also the recent discussion in TaxNewsFlash-Europe France - Proposals for tax on financial transactions, increased VAT rate, and enhanced foreign account reporting obligations (February 2012)




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