Global FS tax newsflash: Green light for EU FTT under enhanced cooperation

On October 9, 2012, European Union (EU) Tax Commissioner, Algirdas Semeta, informed the EU-27 Finance Ministers that 11 Member States support the introduction of a common “EU-wide” financial transactions tax (FTT) in their countries via enhanced cooperation. Therefore, the first hurdle to enhanced cooperation will soon be overcome, because before the FTT can be put in place at least nine Member States are legally required to formally send a letter to this effect to the Commission.

Read this newsflash for more details.