Arab Today, arab today 11 eurozone countries support financial transaction tax
Last Updated : GMT 15:56:25
Arab Today, arab today
Arab Today, arab today

11 eurozone countries support financial transaction tax

Arab Today, arab today

Arab Today, arab today 11 eurozone countries support financial transaction tax

Rome - XINHUA

A total of 11 eurozone member states backed the proposal of the European Commission to impose taxes on financial transactions, European Union (EU) Taxation Commissioner Algirdas Semeta said Tuesday. \"Now it is the time for swift progress. I already have seven letters (of support) from Germany, France, Belgium, Austria, Slovenia, Portugal and Greece. And today we got clear assurances that Italy, Spain, Estonia and Slovakia will send theirs very soon,\" Semeta told reporters. The initiative, also called \"Tobin tax,\" was pushed hard by Germany and France but strongly opposed by Britain, Sweden, Ireland and Luxembourg. Semeta has said that he would start the legislative process as soon as he receives nine official requests. \"The financial transitions tax is about fair taxation, smart taxation and a stronger, more coordinated approach to taxing the financial sector. These objectives remain valid and fully achievable,\" Semeta said at a press conference after a meeting of EU finance ministers. At a meeting in June, the EU\'s 27 finance ministers agreed that \"enhanced cooperation\" was the only option left open because it would be impossible to get unanimous support from all member states. Any proposal for enhanced cooperation from the Commission would have to be approved by a qualified majority of all 27 member states before work to shape the legislation could begin. The \"Tobin tax,\" named after Nobel-prize winning U.S. economist James Tobin, was first proposed by the economist in 1972 as a way of reducing financial market volatility. The European Commission proposed an imposition of a tax of 0.1 percent on trades in shares and bonds, and a 0.01 percent tax on derivatives trading. The proceeds could go towards the central EU budget.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today 11 eurozone countries support financial transaction tax Arab Today, arab today 11 eurozone countries support financial transaction tax

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today 11 eurozone countries support financial transaction tax Arab Today, arab today 11 eurozone countries support financial transaction tax

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday