European leaders have breathed new life into the proposed Financial
Transaction Tax, which stagnated after the breakdown of negotiations in
December 2014.
France and Austria brought the other 9 European partners back to the table with a compromise proposal to unblock negotiations. The meeting ended with an agreement to launch the tax on 1 January 2016.
The Financial Transaction Tax (FTT) is designed to make the banks shoulder a share of the burden of rebuilding Europe's post-crisis finances, but negotiations have been sluggish. In its initial proposal, the European Commission hoped to levy a tax of 0.1% on shares and 0.01% on bond transactions where at least one of the parties was based in the EU.
For more details go through the below link:
http://www.euractiv.com/sections/euro-finance/ftt-launch-agreed-2016-311669
France and Austria brought the other 9 European partners back to the table with a compromise proposal to unblock negotiations. The meeting ended with an agreement to launch the tax on 1 January 2016.
The Financial Transaction Tax (FTT) is designed to make the banks shoulder a share of the burden of rebuilding Europe's post-crisis finances, but negotiations have been sluggish. In its initial proposal, the European Commission hoped to levy a tax of 0.1% on shares and 0.01% on bond transactions where at least one of the parties was based in the EU.
Hans-Jörg Schelling, the Austrian Finance Minister
http://www.euractiv.com/sections/euro-finance/ftt-launch-agreed-2016-311669
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