Commissioner Šemeta welcomes agreement on enhanced cooperation for Financial Transaction Tax

The Council adopted a decision authorising 11 member states to proceed with the introduction of a financial transaction tax (FTT) through enhanced cooperation. Welcoming the agreement, Commissioner Šemeta said:

"Today's agreement to allow 11 Member States to move ahead with a harmonised Financial Transaction tax is a major milestone.

It is for milestone for EU tax policy, as it paves the way for more ambitious Member States to progress on a tax file, even when unanimity could not be achieved. Those who want to move ahead, and who appreciate the merits of working more closely on taxation at EU-level, can do so. This is a highly significant and very welcome advance.
 
But today is also a milestone in global tax history.
 
For the first time ever, the Financial Transaction Tax will be applied at regional level. A block representing around 2/3 of EU GDP will implement this fair tax together, answering the long-time calls of their citizens.  And in doing so, they can pave the way for others to do the same."
 
See also : http://europa.eu/rapid/press-release_SPEECH-13-42_en.htm

It is for milestone for EU tax policy, as it paves the way for more ambitious Member States to progress on a tax file, even when unanimity could not be achieved. Those who want to move ahead, and who appreciate the merits of working more closely on taxation at EU-level, can do so.

This is a highly significant and very welcome advance.
 
But today is also a milestone in global tax history.
 
For the first time ever, the Financial Transaction Tax will be applied at regional level.

A block representing around 2/3 of EU GDP will implement this fair tax together, answering the long-time calls of their citizens.  And in doing so, they can pave the way for others to do the same."
 
See also : http://europa.eu/rapid/press-release_SPEECH-13-42_en.htm