EUROPEAN COMMISSION TOLD TO DRAFT FINANCIAL TRANSACTION TAX LAW BY THE YEAR END
October 1st, 2016
THE EUROPEAN Commission has finally been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to 10 of the EU’s 28 member states.
Meeting on the margins of a Eurogroup session in Luxembourg on Monday (Oct 10), the governments of Austria, Belgium, France, Germany, Greece, Italy, Portugal, Slovakia, Slovenia and Spain agreed to push ahead with the project.
This follows debates since 2011, when the idea was first proposed by the European Commission, but blocked by the UK.
It was not the only country ...
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