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Image header Agence Europe
Europe Daily Bulletin No. 10750
ECONOMY - FINANCE - BUSINESS / (ae) taxation

European Parliament gives go-ahead for launch of Tobin Tax

Brussels, 12/12/2012 (Agence Europe) - The European Parliament voted through in plenary on Tuesday 12 December by a wide majority (533 to 91 with 32 abstentions) a resolution by Greek socialist Anni Podimata authorising 11 member states, accounting for 90% of eurozone GDP, to go ahead with enhanced cooperation to introduce their own financial transactions tax (FTT). The resolution says that the idea is to have an FTT at global level in the end and urges the countries in question (Austria, Estonia, Belgium, France, Germany, Greece, Italy, Portugal, Slovakia, Slovenia and Spain) to demonstrate on a smaller scale what a wider tax might achieve. The adoption of the resolution by the Parliament paves the way for the Council of Ministers to continue its work (and some delegations have asked the Commission for further information) and to decide by a qualified majority vote on the launch of enhanced cooperation. The following stage would be the unveiling of draft legislation by the Commission setting out the scope of the tax, which would then need to be voted through unanimously by the 11 participating member states. (FG/transl.fl)

 

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