The original proposal to adopt an EU-wide FTT did not go ahead because it did not get the support of all Member States. Although unanimity is in principle required for EU tax harmonization initiatives, an alternative procedure known as ‘enhanced cooperation’ allows a smaller group of Member States (a minimum of nine) to adopt such initiatives, subject to certain conditions and authorizations. Initially, the following EU Member States had indicated that they wanted to proceed with this enhanced cooperation procedure: Austria, Belgium, Estonia, France, Germany, Greece, Italy, Portugal, Slovenia, Slovakia and Spain.

Following the Estonia’s formal withdrawal to your , 10 Associate Says are currently doing the fresh new deals under the increased collaboration techniques into the changed proposal. At the same time, particular Eu regions provides delivered unilateral FTTs, namely:

• France, since ;
• Italy, correspondingly, i) since with respect to FTT for the equity trades and you may specific high-volume transactions of equities and ii) by towards the by-product investments and particular high-volume purchases of derivatives;
• Spain as of . Continue reading →