A Global Financial Transaction Tax by any other Name?
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. In essence, the proposal introduces what is being criticised as a global tax on all financial transactions with a link to one of these 11 countries. Should it be adopted, the tax will come into effect on 1 January 2014.
Join Alexandria Carr and Sandy Bhogal of our London office, as they explain the potential impact of the FTT, what happens next and what businesses should be doing about it now.