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Portugal, Slovenia Join EU Nations Seeking Transaction Tax

Portugal and Slovenia joined efforts by four other nations to adopt a financial-transaction tax among a subset of European Union nations, EU spokeswoman Emer Traynor said today.

The Brussels-based commission is ready to move quickly once it receives requests from three additional countries, Traynor said in a text message. France and Germany sent a letter to begin the process on Sept. 28, followed this week by Austria and Belgium.

EU finance ministers are slated to discuss the state of play on financial transaction tax proposals during an Oct. 9 meeting in Luxembourg.

Nine countries must sign on for the commission to begin designing a transaction tax under the EU’s “enhanced cooperation” procedures. In June, EU finance ministers cleared the way for a smaller group of countries to proceed after it became evident there would not be unanimous support for an agreement among all 27 countries in the bloc.

To contact the reporter on this story: Rebecca Christie in Brussels at rchristie4@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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