EU Lawyers Clash Over Legality of 11-Nation Transaction-Tax Plan
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European Union lawyers are clashing over whether a proposed 11-nation financial-transaction tax is legal under the 28-nation bloc’s governing treaties.
Lawyers for the Council of the European Union, which represents the executives of EU member states, say the tax plan goes too far and would discriminate against countries that don’t participate, according to an EU document. The legal service of the European Commission, which proposed the levy, stands by the plan and will offer a rebuttal, said Emer Traynor, a spokeswoman for EU Tax Commissioner Algirdas Semeta.