Pierre Gramegna, president of the EU Economic and Financial Affairs Council, reported on progress made on the financial transaction tax (FTT), saying that:
Pierre Gramegna, president of the EU Economic and Financial Affairs Council, reported on progress made on the financial transaction tax (FTT), saying that:
· ten of the 11 states negotiating a financial transaction tax under the enhanced cooperation procedure have agreed in principle on the key features of the tax on share transactions and derivatives;
· further reflection is needed on the taxation principles to be applied for the FTT (residence principle, issuance principle); and
· further work is needed on the mechanism to be used for collecting the FTT
Pierre Gramegna, president of the EU Economic and Financial Affairs Council, reported on progress made on the financial transaction tax (FTT), saying that:
Pierre Gramegna, president of the EU Economic and Financial Affairs Council, reported on progress made on the financial transaction tax (FTT), saying that:
· ten of the 11 states negotiating a financial transaction tax under the enhanced cooperation procedure have agreed in principle on the key features of the tax on share transactions and derivatives;
· further reflection is needed on the taxation principles to be applied for the FTT (residence principle, issuance principle); and
· further work is needed on the mechanism to be used for collecting the FTT
