The EU Financial Transactions Tax Draft Directive and the Implications for the Global FS industry

September 2011

This Newsflash provides an overview of the draft directive released by the EU Commission which seeks to introduce the financial transactions tax (“FTT”) within the EU by a specified start date of 1 January 2014. It is also the intention of the EU to explore ways to introduce the FTT at a global level through the G-20. Our comments and observations of the potential impact of these new developments on the business community are provided below (pdf file).