• Service: Tax, Tax & Legal Services, EU Tax Centre
  • Date: 15/02/2013

Commission issues draft directive for FTT under enhanced cooperation 14/02/2013 

Euro Tax Flash Issue 211

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On February 14, 2013, the European Commission issued its proposal for a Financial Transaction Tax (FTT) to be adopted by 11 Member States under enhanced cooperation.


Neither Ireland nor the UK are amongst the 11 member states moving ahead with the proposals but UK and Irish institutions engaging in financial transactions within the scope of FTT or dealing instruments taxed in other Member States will find themselves affected by FTT. Member States other than the 11 Member States can contribute to and comment on the proposed framework for FTT as it moves towards the targeted implementation date of 1 January 2014.


To learn more about the February 14, 2013 proposals, click here to view an alert prepared by KPMG’s EU tax centre (PDF, 54kb).


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