A report by the House of Lords EU Committee on Economic and Financial Affairs, published on 10 December 2013, describes the financial transaction tax (FTT) ‘alive and deadly’, saying the tax would have an adverse impact on institutions in the non-participating member states, such as the UK, which could be required to collect the tax on behalf of other member states, such as Germany and France. The report says that using the enhanced cooperation procedure to take forward the FTT for the 11 member states that wish to have it, is flawed and contrary to EU law and could undermine the use of the enhanced cooperation procedure in future.
A report by the House of Lords EU Committee on Economic and Financial Affairs, published on 10 December 2013, describes the financial transaction tax (FTT) ‘alive and deadly’, saying the tax would have an adverse impact on institutions in the non-participating member states, such as the UK, which could be required to collect the tax on behalf of other member states, such as Germany and France. The report says that using the enhanced cooperation procedure to take forward the FTT for the 11 member states that wish to have it, is flawed and contrary to EU law and could undermine the use of the enhanced cooperation procedure in future.
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")