A global financial transaction tax by any other name?
Mayer Brown Legal Update
On 14 February 2013, the European Commission published a proposal for a financial transaction tax (“FTT”) to be introduced in a subset of the EU: Germany, France, Spain, Italy, Belgium, Austria, Estonia, Slovenia, Slovakia, Portugal and Greece. The scope of the proposal is such that it is being termed a global financial transaction tax. Should it be adopted, the tax will come into effect on 1 January 2014.