European Parliament pushing for financial transaction tax as own (EU) resource
In its Annual Tax Report, approved on March 25, 2015, the European Parliament emphasised the urgency of acting on the commitment of eleven Member States to introduce a financial transaction tax (FTT) and called for the FTT revenues to be part of an
See MoreFrance and Austria Seek To Launch FTT In 2016
France and Austria sought to break deadlocked talks with nine other European countries for a financial transaction tax, by proposing a broader financial transaction tax with a lower rate, in an attempt to push forward delayed plans for a European
See MoreEuropean Union: Report on Progress towards Financial Transactions Tax
The European Union’s Italian Presidency which draws to a close at the end of 2014 has issued a report on the progress made towards the introduction of a Financial Transactions Tax (FTT) by some EU countries under the EU’s enhanced cooperation
See MoreBrazil: The financial transactions tax on cross-border loans
The governments released a Decree no. 8,26314 on June 2014, for the purpose to assigns new maturity term for cross-border transaction. Financial transactions tax on cross-border loans to be allocated at 0% rate which was previously 6% IOF rate.
See MoreAustria’s Finance Minister clarifies FTT Start in 2016
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
See MoreFrance Pushes Ahead On FTT
Embarking on a lonely and uncertain course, France’s long-awaited, much debated tax on financial transactions (FTT) finally entered into force on 1 August 2012. Supposedly prefiguring the introduction of a mechanism at European level, a 0.2% tax
See MoreItaly: Decree on Financial Transaction Tax has been issued with Amendment
A Decree has been approved by The Italian Ministry of Economy and Finance on 16 September 2013 which makes the amendment of Decree on the Italian Financial Transaction Tax (IFTT) issued in order to implement the IFTT Law adopted last year on 24
See MoreBrazil: Tax Authority has published guidance on Transitory Tax Regime
Tax Authority has published guidance on the Transitory Tax Regime in the Official Gazette on 17 September 2013, introduced the Federal Law 11,941/2009. One of the main motives of Law 11,941/2009 was to make the Brazilian GAAP more adaptable with the
See MoreHungary: Increased financial transactions and mining tax rates
The Hungarian Parliament passed legislation in late June 2013. The legislation is planned to increase the tax collections and other supports so that the government could meet its target for a balanced national budget. According to the legislation a
See MoreUK challenges financial transactions tax
The UK has launched a legal challenge in the European Court of Justice to the planned financial transactions tax. This tax is to be introduced by eleven European countries under the EU provisions for enhanced cooperation and is planned to go into
See MoreTax Cuts in Brazil
The Brazilian Finance Minister announced a number of tax cuts, including financial transactions tax, known as IOF. According to this plan, foreign purchases of corporate bonds with maturities of over four years, and local equities, would be no
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