Is the proposed FTT (Financial Transactions Tax) likely to see the light of day?
TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here
Tax Professional Answers
The FTT seems to be bogged down right now, especially in view of the upcoming European elections and the case brought against it by the UK on the grounds that it is contrary to EU Law (based on complex "Constitutional" and procedural arguments more than substantively). Nevertheless, one cannot ignore the fact that the FTT is likely to add revenues to the coffers of the various Member States which enact it, and that remains a significant incentive to do so (even if certain analysts have warned that the tax will yield much less than expected if it results in driving financial business out of the EU).Leave a Comment 434 weeks ago