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FTT progress

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Pierre Gramegna, president of the EU Economic and Financial Affairs Council, reported on progress made on the financial transaction tax (FTT), saying that:

·        ten of the 11 states negotiating a financial transaction tax under the enhanced cooperation procedure have agreed in principle on the key features of the tax on share transactions and derivatives;

·        further reflection is needed on the taxation principles to be applied for the FTT (residence principle, issuance principle); and

·        further work is needed on the mechanism to be used for collecting the FTT

See www.bit.ly/1AeT7v3.

Issue: 1289
Categories: News
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