Commission adopts Decision to authorise Enhanced Cooperation on a common Financial Transactions Tax
The 10 Member States that wish to apply an EU financial transaction tax (FTT) through enhanced cooperation should be allowed to do so, because all the legal conditions for such a move are met. This is the conclusion of the proposal for a Council Decision adopted by the Commission today.
Commissioner Šemeta said:
"A core group of Member States are keen to move ahead with a common FTT, on the basis of what I proposed last year. And I applaud this. Because I firmly believe that an EU FTT has great benefits to offer, even if applied by less than 27 Member States. And I also believe that now is the right moment to move ahead with it.
Because in difficult times, fairness matters. And the FTT is the epitome of a fair tax. Importantly too, a common FTT – even if applied by less than the full 27 Member States – will reduce the fragmentation of the Single Market. And in doing so, will make life easier for operators throughout the EU."
For the full video statement by Commissioner Šemeta: http://ec.europa.eu/avservices/video/player.cfm?ref=I074957&sitelang=en