Arab Today, arab today eu reaches accord on disputed financial transaction tax
Last Updated : GMT 09:09:51
Arab Today, arab today
Arab Today, arab today

EU reaches accord on disputed financial transaction tax

Arab Today, arab today

Arab Today, arab today EU reaches accord on disputed financial transaction tax

Brussels - AFP

The EU finance ministers backing a controversial financial markettax, agreed on Tuesday it would come into effect in 2016 at the latest, despite strongopposition by some countries, officials said.The 11 member states which support the Financial Transaction Tax, led by Franceand Germany, had reached a consensus that "it should be a step by step approach, astart to tax shares and some derivatives," Austrian FinanceMinisterMichaelSpindelegger said."Each step towards full implementation (will be) decided in a manner that takes intoconsideration" the economic impact and the concerns of other countires whooppose it, Spindelegger told his colleagues.Britain, home to one of world's biggest financial markets in London, hasconsistently attacked the tax as harmful to business and counterproductive in thatinvestors will go elsewhere to avoid paying.Chancellor of the Exchequer George Osborne said that if the tax impacted otherEuropean Union countries who have decided not to take part, such as Britain, thenthey had the right to challenge it and would do so.Another opponent, Sweden was blunt in its opposition."We think the FTT is a very inefficient and costly tax (which) will have a detrimentalimpact on investment," Finance Minister Anders Borg said as he arrived for themeeting."The lack of information on the proposal is a real problem .. we will be very criticalof both the process" and the content, he said.France and Germany won support from nine other EU member states for the FTTwhich they champion as a way of making banks and investment houses pay for theexcesses which led to the 2008 financial crash and the debt crisis. However, negotiations between the 11 countries have been difficult, making littleprogress up to now in the face of intense lobbying against the tax.The FTT would apply to any transaction, anywhere in the world, carried out by a financial entity which is based in one of the 11 EU states.It could bring in 30-35 billion euros annually, according to European Commissionestimates.The levy is to be introduced under what is known as 'enhanced cooperation,' an EUprocedure which allows a minority to go ahead with a proposal if it cannot winmajority support.

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 eu reaches accord on disputed financial transaction tax Arab Today, arab today eu reaches accord on disputed financial transaction tax

 



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 eu reaches accord on disputed financial transaction tax Arab Today, arab today eu reaches accord on disputed financial transaction tax

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Prayers turn to nightmare

GMT 06:14 2017 Sunday ,22 October

Prayers turn to nightmare
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
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