Further background information
Preparatory work in 2010
On 7 October 2010 the Commission published a communication (COM/2010/549 ) setting out ideas for the future taxation of the financial sector. This was followed on 22 February 2011 by the launch of a public consultation on the taxation of the financial sector, aimed to receive as wide as possible feedback on the ideas set out in the Communication. The results of the consultation are available on the website.
In parallel, the Commission has explored ways to introduce a financial transaction tax at global level since 2009 with its international partners in the G20 (Pittsburgh, Toronto) and will continue to do so.
The proposal of 28 September 2011
- frequently asked questions (MEMO/11/640 ),
- the proposal itself (COM/2011/594 ),
- the impact assessment (SEC/2011/1102), its summary (SEC/2011/1103) and the citizens' summary
- a presentation explaining the main characteristics of the proposal.
The Financial Transaction Tax explained: a video interview of Manfred Bergmann, Director for Indirect Taxation and Tax Administration, European Commission
|Short version with English subtitles (3 minutes)|
|Complete version (14 minutes)|
- seven explanatory notes published by the European Commission that provide the results of further analysis and clarifications on how the FTT would work in practice.
The steps towards "enhanced cooperation"
- The Commission proposal for authorising enhanced cooperation (COM/2012/631 )
- The European Parliament's consent
- The Council's authorisation decision Council press release,(EU/2013/52)
Experience with newly-introduced FTTs in Member States of the EU
Did the new French tax on financial transactions influence trading volumes, price levels and/or volatility on the taxed market segment? – A trend analysis.