French Economy, Finance and Industry Ministry said in a statement on the evening of 27, Italian Prime Minister Tremonti and eight other euro area member states finance ministers jointly sent a letter to the EU?s rotating presidency, Denmark, EU to speed up consideration of the financial transactions tax proposal to fight this on a semi-submitted to the European Parliament. Nine countries, including Germany, France, Italy, Austria, Belgium, Spain, Finland, Greece and Portugal.
The statement said that the financial transaction tax is levied at the EU level is necessary, this can ensure that the financial industry is fair to assume that the consequences of the debt crisis in Europe, but also to strengthen financial market supervision. EU 9 intends to levy a financial transactions tax can be described as ?another way?. Special provisions in accordance with the Lisbon Treaty, a ?strengthening cooperation?, as long as the EU-27, 1/3 of the member states agreed to these Member States to draw up their own new laws.
However, the EU levied the taxes would have difficulty to achieve in the short term. 9, the European Commission has formally submitted to the European Parliament within the EU to impose a financial transactions tax proposal, it is recommended that the EU financial institutions to participate in all financial transactions tax, if the proposal to be implemented from 2014 onwards, and is expected to each bring at least 550 billion euros in tax revenue. However, according to relevant laws, the proposal must be agreed that the Council of Europe, and after listening to the views of the European Parliament to pass through.
Within the EU has been deeply divided the financial transactions tax. France and Germany and China advocate a unified introduction of a financial transactions tax to limit the large-scale flow of speculative capital, and the prevention of financial risks at the EU level. On one end of the French President Nicolas Sarkozy announced that France will now 8 impose a financial transaction tax is expected that each will therefore increase the income of one billion euros. United Kingdom is a staunch opponent to levy the tax. Britain insisted that the unified introduction of a financial transaction tax on a global scale, the United Kingdom in order to agree that the EU imposed on the grounds that unilaterally imposed, more international capital flows to countries and regions of no taxation, no good stability in global financial markets.
Danish Presidency of the EU on the 11th of this. Danish Prime Minister Schmidt said earlier that Denmark will agree with the premise without affecting economic growth and employment within the EU to impose a financial transaction tax.
Analysis pointed out that the introduction of a financial transactions tax would further push up the cost of financing of the European banking sector, led to credit tightening, adding to the burden of financial sector operations, which is trapped in the debt crisis in Europe, the banking industry will be ?worse.? . At the same time, the levy of the operational details of the financial transactions tax is also open to question, and financial institutions for tax evasion, it may turn derived a variety of ?tax tools? increased financial ?chaos?.
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