Financial Transaction Tax 

Financial sector organizations have a clear need to stay informed of developments in this area and the potential impact these may have on their business. In order to meet this need KPMG member firms have set up an FTT technical and business support unit, coordinated by KPMG’s EU Tax Centre. The unit combines tax and industry specialists from KPMG member firms in key European jurisdictions and is supported by a detailed knowledge and information sharing platform.

Learn more about the services provide by KPMG regarding the FTT.

Latest status

• Euro Tax Flash Issue 211 (PDF 58 KB) (14 February 2013) – European Commission issues draft directive for FTT under enhanced cooperation
• Newsletter (PDF 319 KB) UK Financial Transaction Tax: Q&A about implications for businesses
• Euro Tax Flash Issue 210 (PDF 61 KB) (22 January 2013) – ECOFIN gives green light to FTT enhanced cooperation initiative
• Euro Tax Flash Issue 205 (PDF 51 KB) (24 October 2012) – Commission supports FTT enhanced cooperation initiative and issues draft Council Decision
• Euro Tax Flash Issue 202 (PDF 62 KB) (09 October 2012) – Council discussions on the EU Financial Transaction Tax
• Financial Transaction Tax Survey – An overview of the eight EU Member States considered to apply a tax on financial transactions
• Euro Tax Flash Issue 188 (PDF 53 KB) (27 June 2012) – Council orientation debate on the EU Financial Transaction Tax
• Euro Tax Flash Issue 186 (PDF 57 KB) (24 May 2012) – European Parliament votes on Financial Transaction Tax
• KPMG's EU Tax Centre commentary on the European Commission Draft Directive on an EU wide financial transactions tax  – Video by KPMG's EU Tax Centre commenting on the European Commission draft directive introducing EU wide financial transactions tax.
• Euro Tax Flash Issue 168 (PDF 156 KB) (29 September 2011) – Commission’s proposal for a Financial Transaction tax

Official documentation

• European Commission:
  1. Text of the Proposal – enhanced cooperation (PDF 142 KB)
  2. Impact Assessment – enhanced cooperation (PDF 418 KB)
  3. Text of the initial Proposal (PDF 142 KB)
  4. Impact Assessment – initial Commission Proposal (ZIP 6.9 MB)
• European Parliament:
  1. Decision authorizing enhanced cooperation
  2. Position on the European Commission’s FTT Proposal
• Council of the European Union Decision authorizing enhanced cooperation
• Status of legislative procedure for the Commission’s FTT proposal – enhanced cooperation

National Country Initiatives

• France:
  1. Information Note (PDF 126 KB) by Fidal* in France (July 2012)
• Germany:
  1. KPMG in Germany dedicated external web page Finanztransaktionssteuer (page only available in German)
  2. Newsletter (PDF 52.3 KB) (July 2012) – Cross-border consensus on the German initiative for the introduction of a tax on financial transactions requires a timely analysis of strategic impact and strategic options

(*) Fidal is a separate and distinct organization from KPMG International and KPMG member firms and should be described as such.