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European Parliament votes in favour of financial transaction tax

On 23 May 2012, the European Parliament voted in favour of the Commission's proposal for a financial transaction tax. Speaking after the vote, Commissioner Šemeta, in charge of Taxation and Customs Union, Audit and Anti-Fraud, said: "I warmly welcome today's endorsement by the European Parliament of our proposal for a financial transaction tax".

The outcome of the vote in the European Parliament is a further sign of recognition of what an EU financial transaction tax (FTT) has to offer: a fairer tax system, greater stability in the financial sector, as well as a new source of revenue that does not ask more of the ordinary taxpayer. The latest Eurobarometer survey shows that 66% of Europeans are in favour of such a tax.

The adopted text adds an "issuance principle" to the Commission's proposal, whereby financial institutions located outside the EU would also be obliged to pay the FTT if they traded securities originally issued within the EU.

More information

Commissioner Šemeta welcomes European Parliament's strong support for the Financial Transaction Tax

Commissioner Šemeta's speech in the plenary debate of the European Parliament

Parliament adopts ambitious approach on financial transaction tax