Global FS tax newsflash: Proposed Italian and Portuguese FTTs

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Italy and Portugal have both pledged to support a European Union (EU)-wide financial transactions tax (FTT) via enhanced cooperation. In the meantime, however, both countries are taking steps to introduce national legislation that would apply as early as January 2013 for Italy and in 2013 or 2014 for Portugal.

This Global FS tax newsflash provides a brief overview of both proposals.