The original proposal to adopt an EU-wide FTT did not go ahead because it did not get the support of all Member States. Although unanimity is in principle required for EU tax harmonization initiatives, an alternative procedure known as ‘enhanced cooperation’ allows a smaller group of Member States (a minimum of nine) to adopt such initiatives, subject to certain conditions and authorizations. Initially, the following EU Member States had indicated that they wanted to proceed with this enhanced cooperation procedure: Austria, Belgium, Estonia, France, Germany, Greece, Italy, Portugal, Slovenia, Slovakia and Spain.
After the Estonia’s specialized detachment towards the , ten Representative Says are engaging in the fresh new transactions within the enhanced collaboration procedure towards the modified proposal. In the meantime, some Eu countries provides delivered unilateral FTTs, namely:
- France, at the time of ;
- Italy, respectively, i) by in terms of FTT on the security deals and you may specific high-frequency purchases connected with equities and you may ii) as of toward derivative trades and you may certain highest-regularity transactions connected with types;
- The country of spain since .
What’s the status of one’s European union FTT?
In , the Portuguese Presidency of the Council proposed an inclusive discussion among all Member States on tax design issues of the FTT at EU level. Continue reading Yet not, almost every other Associate Claims can get join the effort at any part