EU to Present Financial-Transaction Tax Proposal on Feb. 14Jim Brunsden
The European Commission will present plans on Feb. 14 for a financial-transaction tax to be applied by a group of interested member states.
The initiative will be based on a prior transaction-tax proposal for all 27 EU nations that failed to gain support, the Brussels-based commission said in a statement on its website. The proposal must be agreed on by participating governments before it can take effect.
The objectives of the tax are to “deliver important new revenues, ensure a fair contribution from the financial sector to public finances, contribute to more responsible trading and enable a coherent approach to taxing this sector in the single market,” the commission said.