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Cyprus News Agency: News in English, 13-02-14

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] EU Commission adopts details for FTT

  • [01] EU Commission adopts details for FTT

    The details of the Financial Transaction Tax (FTT) to be implemented under enhanced cooperation have been set out in a proposal adopted by the European Commission today.

    As requested by the 11 Member States 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.

    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. When applied by the 11 Member States, this Financial Transaction Tax is expected to deliver revenues of 30-35 billion euros a year.

    The 11 countries are Germany, France, Italy, Spain, Greece, Austria, Belgium, Portugal, Slovakia, Holland and Slovenia.


    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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