Taxation and Customs Union
The European Commission launched two public consultations on specific measures which could improve tax collection and ensure better tax compliance across the EU.
The details of the Financial Transaction Tax (FTT) to be implemented under enhanced cooperation have been set out in a proposal adopted by the Commission today. As requested by the 11 Member States (France, Germany, Belgium, Austria, Slovenia, Portugal, Greece, Slovakia, Italy, Spain, Estonia) that will proceed with this tax, the proposed Directive mirrors the scope and objectives of the original FTT proposal put forward by the Commission in September 2011 (IP/11/1085). The approach of taxing all transactions with an established link to the FTT-zone is maintained, as are the rates of 0.1% for shares and bonds and 0.01% for derivatives.
The European Commission has today proposed to crack down on criminals who counterfeit euro notes and coins. Counterfeiting of the euro is estimated to have cost at least €500 million since the currency was introduced in 2002. The proposal aims to strengthen the protection of the euro and other currencies against counterfeiting through criminal law measures.