FTT

A proposal for a Council Decision ’authorising enhanced cooperation in the area of financial transaction tax’ (FTT) has been issued as COM(2012) 631. The initiative follows the failure to agree an EU-wide FTT based on COM(2011) 594 and subsequent requests from 10 Member States for the Commission to present a proposal that would allow them to use the ’enhanced cooperation’ procedure. If adopted, the Decision will enable the following Member States to establish enhanced cooperation on a common system of financial transaction tax: Belgium, Germany, Greece, Spain, France, Italy, Austria, Portugal, Slovenia and Slovakia. Specific implementing measures are to be proposed separately.

Press Releases IP/12/1138, MEMO/12/799

Proposal text

(Added 2012-10-30)