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Consultation on financial sector taxation

Title
Consultation on financial sector taxation
Policy fields

Taxation

Target groups

All citizens and organisations are welcome to contribute to this consultation. Contributions are particularly sought from market participants, investors, consulting firms, national governments or their agencies, regulatory authorities, academics, and other professional organisations in the financial sector as well as social partners and NGOs.

Period of consultation
From 22.02.2011  to 19.04.2011
Objective of the consultation

The Commission is launching this public consultation in order to receive stakeholder feedback on its initiative for the taxation of the financial sector. The Commission would like (i) to test its assumptions and collect related evidence as regards the definition of the problems, (ii) to assess the impacts of the set of policy options and (iii) to consult on more detailed aspects of the feasibility and design of the policy option.

The problems identified are as follows:

1. Substantial public financing support during the crisis, need for fiscal consolidation and possible under-taxation of the financial sector.

2. Undesirable behaviours for the society as a whole (systemic risks).

3. Uncoordinated patchwork of national measures may:

- create incentives for tax-driven relocation either within the EU or outside the EU and distortion of competition;

- create situations of unrelieved juridical double taxation or non-taxation

The policy measures that are analysed include a financial transactions tax (FTT) and financial activities tax (FAT). 
How to submit your contribution

We welcome contributions from citizens, organisations and public authorities.

  • If you are answering this consultation on behalf of a registered organisation, which is a financial institution, please click here to submit your contribution.
  • If you are answering this consultation on behalf of a registered organisation, which is not a financial institution, please click here to submit your contribution.
  • If you are answering this consultation on behalf of a non-registered organisation, which is a financial institution, please click here to submit your contribution.
  • If you are answering this consultation on behalf of a non-registered organisation, which is not a financial institution, please click here to submit your contribution.
  • If you are answering this consultation as a citizen, please click here to submit your contribution.
  • If you are answering this consultation on behalf of a public authority (EU, national or sub-national), please click here to submit your contribution.

It is advisable to read the reference documents below first. Please read the consultation document and then answer the related questions highlighting your answer and adding any evidence to support your opinion. It is possible to give more than one answer per question. Please include any further comments not covered already at the end of the questionnaire.

Received contributions will be published on the Internet. It is important to read the specific privacy statement attached to this consultation for information on how your personal data and contribution will be dealt with.

View the consultation document containing a questionnaire
Consultation paperpdf(86 kB) Choose translations of the previous link  .
Word versiondoc(180 kB)
Reference documents and other, related consultations
See our dedicated web page
Contact details
responsible service

Directorate-General for Taxation and Customs Union – Directorate D - Direct taxation, Tax Coordination,
Economic Analysis and Evaluation

e-mailTAXUD-FINTAX@ec.europa.eu
postal address

European Commission
Directorate-General for Taxation and Customs Union
Rue de Spa 3, Office 06/31
B-1049 Brussels
Fax: +32-2-296.97.07

View the contributions
In the interests of transparency, organisations have been invited to provide the public with relevant information about themselves by registering in the Interest Representative Register and subscribing to its Code of Conduct. If the organisation is not registered, the submission is published separately from the registered organisations.
Results of consultation and next steps
Responses and summary reportpdf(18 kB) Choose translations of the previous link 
Protection of personal dataSpecific privacy statementpdf(18 kB) Choose translations of the previous link 

 

 

"How to submit your contribution" in respect of organisations

In the interests of transparency, organisations (including, for example, NGOs, trade associations and  commercial enterprises) are invited to provide the public with relevant information about themselves by registering in the Interest Representative Register and subscribing to its Code of Conduct

If you are a Registered organisation, please indicate the name and address of your organisation and your Register ID number on the first page of your contribution. Your contribution will then be considered as representing the views of your organisation.

Submit your contribution (for financial institutions)

Submit your contribution (for non-financial institutions).

If your organisation is not registered, you have the opportunity to Register now.

Then return to this page to submit your contribution as a Registered organisation.

Responses from organisations not registered will be published separately.
Non-registered organisations, please submit your contributions please submit your contributions here (for financial institutions) or here (for non-financial institutions).

The Commission asks organisations who wish to submit comments in the context of public consultations to provide the Commission and the public at large with information about whom and what they represent. If an organisation decides not to provide this information, it is the Commission's stated policy to list the contribution as part of the individual contributions. (Consultation Standards, see COM (2002) 704, and Communication on ETI Follow-up, see COM (2007) 127 of 21/03/2007)