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.

Following Estonia’s certified withdrawal on the , 10 Representative Says are currently participating in new dealings beneath the improved venture procedure toward changed offer. Meanwhile, certain European union regions provides brought unilateral FTTs, namely:

• France, by ;
• Italy, correspondingly, i) at the time of regarding FTT on security investments and you will certain high-volume transactions involving equities and you will ii) at the time of on derivative deals and you can particular higher-regularity deals involving derivatives;
• The country of spain at the time of .

What is the status of one’s Eu 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. Continua a leggere