European Commission will begin drafting new EU financial transaction tax text

Posted on Updated on

An Austrian proposal for a compromise text for the proposal to introduce a financial transaction tax by 10 EU Member States has been agreed in principle according to a Reuters report, at a meeting of the Finance Ministers in question on October 11, 2016. The new text would require the tax to be applied to shares originating from the Member States in question but after a transitional period would extend to all shares. There would be exemptions for repos and sovereign debt trades.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s