Austria’s Finance Minister has clarified that a European Union (EU) financial transactions tax (FTT) will not come into effect until at least 2016.
Austria’s State Budgets for 2014 and 2015 will reflect the delays and will not make provision for revenue to flow from the levy. At the previous round of talks on the FTT the majority of participants agreed that the tax should be introduced progressively. Austria wants the FTT to cover transactions in shares, bonds and derivatives.
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