The EU Proposal For Financial Transactions Tax

Law360, New York (February 15, 2012, 4:19 PM EST) -- On Sept. 28, 2011, the European Commission (EC) announced a proposal for a financial transactions tax (FTT)[1], a measure with a specific financial regulatory objective and revenue-raising goals. This measure has genuine potential to become law in the near future and would produce profound global impacts on financial transactions.

The tax as currently proposed would apply to many financial transactions between counterparties that are based within and outside the European Union (EU), and would be calculated at a minimum percentage based on the price of the...
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